PRUDENTIAL FINANCIAL ALERT: Bragar Eagel & Squire, P.C. Announces That a Class Action Lawsuit Has Been Filed Against Prudential Financial, Inc. and Encourages Investors to Contact the Firm

Bragar Eagel & Squire, P.C., a nationally recognized shareholder law firm, announces that a class action lawsuit has been filed in the United States District Court for the District of New Jersey on behalf of investors that purchased Prudential Financial, Inc. (NYSE: PRU) securities between February 15, 2019 and August 1, 2019 (the Class Period). Investors have until January 27, 2020 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

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On July 31, 2019, the Company announced disappointing second quarter 2019 financial results and disclosed that the Company would take a pre-tax charge of $208 million as a result of its market experience update. In the earnings release, Prudentials CEO acknowledged that changes in mortality assumptions had negatively impacted the Companys results and would trim near-term momentum.

On August 1, 2019, the Company held a conference call to discuss its second quarter 2019 financial results. On the call, defendants revealed that the change in mortality assumptions would require a negative earnings impact of $25 million per quarter for the foreseeable future, wiping out approximately one third of the earnings attributable to the Individual Life business segment.

On this news, Prudentials stock price declined more than 10%, to close at $91.09 per share on August 1, 2019.

Then on August 2, 2019, Prudential filed its quarterly report on Form 10-Q with the SEC for the second quarter of 2019, which provided additional information concerning the Companys adjustments to operating income by segment, including that the $208 million pre-tax charge to reserves was entirely attributable to the Individual Life business segment.

On this news, Prudentials stock price declined another 5.6%, falling to $88.56 per share on August 2, 2019 and to $85.95 per share on August 5, 2019.

The complaint, filed on November 27, 2019, alleges that during the Class Period defendants made materially false and misleading statements and/or failed to disclose adverse information regarding Prudentials business and prospects. Specifically, defendants failed to disclose the following facts: (a) the Companys reserve assumptions failed to account for adversely developing mortality experience in its Individual Life business segment; (b) the Company was not over-reserved, but instead, its reported reserves, particularly for the Individual Life business segment, were insufficient to satisfy its future policy benefits liabilities; and (c) the Company had materially understated its liabilities and overstated net income as a result of flawed assumptions in calculating mortality experience. As a result of this adverse information being withheld from the market, the price of Prudential common stock was artificially inflated to more than $105 per share during the Class Period.

If you purchased Prudential Financial securities during the Class Period, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at [email protected], or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.

About Bragar Eagel & Squire, P.C.:

Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.

Bragar Eagel & Squire, P.C.

Brandon Walker, Esq.

Melissa Fortunato, Esq.

(212) 355-4648

[email protected]

www.bespc.com