A lawsuit was filed on behalf of investors in Metlife Inc (NYSE:MET) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 02/20/2018 -- An investor, who purchased shares of Metlife Inc, filed a lawsuit over alleged violations of Federal Securities Laws by Metlife Inc in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Metlife Inc (NYSE:MET) have certain options and for certain investors are short and strict deadlines running. Deadline: April 6, 2018. NYSE:MET investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The plaintiff claims that between February 27, 2013 and January 29, 2018, the defendants made false and/or misleading statements and/or failed to disclose that MetLife's practices and procedures used to estimate its reserves set aside for annuity and pension payments were inadequate, that MetLife had inadequate internal controls over financial reporting, and that as a result, defendants' statements about MetLife's business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
On January 29, 2018, post-market, Metlife Inc announced that it would postpone its fourth-quarter earnings announcement, citing a "material weakness" in its financial reporting. In addition, Metlife Inc advised investors that it expected to increase total reserves between $525 millionand $575 million on a pre-tax basis to cover certain annuity recipients "who have been unresponsive or missing over time."
Those who purchased shares of Metlife Inc (NYSE:MET) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
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