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Mar 8, 2018 7:10 AM ET

Deadline in Lawsuit for Investors in MetLife Inc (NYSE: MET) shares announced by Shareholders Foundation

Legal Newswire iCrowdNewswire - Mar 8, 2018

SAN DIEGO,  — The Shareholders Foundation, Inc. announces that a deadline is coming up on April 6, 2018 in the lawsuit that was filed for certain investors in NYSE:MET shares over alleged Securities Laws Violations by MetLife Inc .

Investors, who purchased shares of MetLife Inc (NYSE:MET) in 2013 or earlier and continue to hold any of those NYSE:MET shares, have certain options and should contact the Shareholders Foundation at [email protected] or call +1(858) 779 – 1554.

The plaintiff alleges that 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 million and $575 million on a pre-tax basis to cover certain annuity recipients “who have been unresponsive or missing over time.” 

Those who purchased MetLife Inc (NYSE:MET) shares should contact the Shareholders Foundation, Inc.

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

Contact Information:

Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
[email protected]
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108

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