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MetLife, Inc. (MET)

NYSE:MET

Summary

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $100,000 In MetLife, Inc. To Contact The Firm

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in MetLife, Inc. (“MetLife” or the “Company”) (NYSE:MET) of the April 6, 2018 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

If you invested in MetLife stock or options between February 27, 2013 and January 29, 2018 and would like to discuss your legal rights, please fill out the form below.  There is no cost or obligation to you.  You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com. 

The lawsuit has been filed in the U.S. District Court for the Eastern District of New York on behalf of all those who purchased MetLife securities between February 27, 2013 and January 29, 2018 (the “Class Period”).  The case, Parchmann v. MetLife, Inc. et al, No. 1:18-cv-00780 was filed on February 5, 2018.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) MetLife’s practices and procedures used to estimate its reserves set aside for annuity and pension payments were inadequate; (2) MetLife had inadequate internal controls over financial reporting; and (3) as a result, the Company’s statements about its business, operations and prospects were materially false and misleading and/or lacked a reasonable basis.

Specifically, aftermarket on December 15, 2017, the Company filed a Form 8-K with the Securities and Exchange Commission (“SEC”) announcing that the Company has not been able to locate some of the Company’s annuitant population and that it plans to provide an update upon the filing of the Form 10-K for the year ending December 31, 2017.  Then, on January 29, 2018, MetLife issued a press release announcing that it had to reschedule the earnings releases and conferences calls for the fourth quarter 2017 and the full year 2017, that the Company identified material weaknesses in its internal controls, that the Company would have to make revisions to prior financial statements, and that the SEC and New York Department of Financial Services made inquiries to the Company.

On this news and over the next two trading days, MetLife’s share price fell from $54.40 per share on January 29, 2018 to a closing price of $48.07 on January 31, 2018—a $6.33 or a 11.64% drop.

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fill out the form below and a Firm representative will contact you.

  • Case:
    MetLife, Inc. (MET)
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* The submission of this form does not create an attorney-client relationship.

Contact Counsel

Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

Case Details

Date:

  • 02/06/2018

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