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Prudential Investors Win Cert. In Unpaid Policy Suit

Law360, San Francisco (August 31, 2015, 9:29 PM EDT) -- 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.

U.S. District Judge Madeline Cox Arleo approved a nationwide class of shareholders who purchased Prudential's publicly traded stock between May 5, 2010, and Nov. 4, 2011. She appointed National Shopmen Pension Fund as the lead plaintiff, despite Prudential's objection that...
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