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LNC.US
id: 984, Created by , Scout

Lincoln National Corporation (LNC) Q3 22 Unexpected Net Loss Case

  • In November 2022, Lincoln (LNC) reported a $2.6B net loss for Q3 2022 and a $634M goodwill impairment.
  • $LNC fell 33.2%, losing $2.9B+ shareholder value.
  • Investors may have grounds to suspect that Lincoln hid serious business setbacks, which led to their losses.
On November 2, 2022, Lincoln released Q3’22 financial results, reporting a net loss of $2.6 billion compared to a net income of $318 million for Q3’21. The Company also disclosed a $634 million goodwill impairment to the life insurance business.

On this news, $LNC fell 33.2% and lost over $2.93 billion of its market capitalization, seriously damaging shareholders.

Considering all the information, investors might have grounds to suspect that Lincoln failed to timely disclose the Company’s business setbacks, which consequently led to their losses.

The case is already under investigation by at least one of the reputable law firms.
Alleged Offence
Misleading Statements
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
03 November 2022
Collecting participants…

Lincoln National Corporation

Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates through four segments: Life Insurance, Annuities, Gro...

    Ticker
    LNC.US
    ISIN
    US5341871094
    CIK
    59558
    Sector
    Financial Services
    Industry
    Insurance - Life
    Country
    USA
    Address
    150 North Radnor-Chester Road, Radnor, PA, United States, 19087