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

• $LNC stockholder filed a claim vs. Lincoln for overstating financial results and business prospects.

• On November 2, 2022, $LNC fell 33.2%, losing $2.9B+ shareholder value due to the financial report news.

• Affected $LNC investors may join the claim to be notified about potential recovery.

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.

Lincoln 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.

Based on these events, $LNC stockholder filed a claim against Lincoln and its leaders, accusing them of the following details:

• Lincoln faced a decline in its variable universal life insurance business.

• This caused an overestimation of goodwill and outdated lapse assumptions, leading to overstated reserves.

Considering all the information, investors might have grounds to suspect that Lincoln National's life insurance business decline led to overstated goodwill, outdated policy lapse assumptions, and reserves.

One of LNC's investors has already filed a claim vs. Lincoln National in the E. D. of Pennsylvania court.