August 24, 2016
Prudential Financial Inc. has agreed to pay $33 million to end a shareholder class action alleging the insurer's stock values tumbled when it revealed it had held onto money that should have been paid to policy beneficiaries or state unclaimed property funds, according to a settlement motion filed in New Jersey federal court Wednesday.
August 31, 2015
A New Jersey federal judge on Monday certified a class of Prudential Financial Inc. shareholders who claim that when the insurer revealed it had held onto money that should have been paid to policy beneficiaries or state unclaimed property funds, its stock values tumbled, harming investors.
May 01, 2015
Auditor Verus Financial LLC lost its appeal of an order to produce documents in a retirement fund's suit against insurer Prudential Financial Inc. for allegedly misleading investors, when a New Jersey federal judge ruled Thursday that an "insurance examination privilege" isn't warranted in the putative class action.
December 23, 2014
In a Michigan city's putative class action alleging Prudential Financial Inc. misled investors by failing to account for payments to the families of deceased policyholders, insurance departments from seven states have urged a New Jersey federal judge to overrule an order compelling the hired auditor to produce documents.