Lincoln National Corporation (NYSE: LNC)

This lawsuit is for anyone who acquired securities in Lincoln National Corporation (NYSE: LNC) from November 4, 2020 through November 2, 2022.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by failing to timely inform investors that the Company would need to take an impairment to goodwill.

On November 2, 2022, Lincoln released its third quarter 2022 financial results, reporting a net loss of $2.6 billion compared to a net income of $318 million for the third quarter of 2021. The Company also disclosed that it “incurred a $634 million goodwill impairment to the life insurance business.” On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Lincoln National Corporation (NYSE: LNC) from November 4, 2020 through November 2, 2022 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.