Prudential Financial Inc.
Robbins LLP served as co-lead counsel for plaintiffs who sued for damages in connection with false and misleading statements regarding adverse mortality experience and corresponding reserves for life insurance policies acquired from The Hartford Financial Services Group, Inc. Plaintiffs alleged that defendants knew that adverse mortality experience would require material adjustments in the mortality exceptions, yet misled investors during Prudential's June 2019 investor conference by stating that the mortality experience was in the range of normal volatility and below previous experience. After protracted litigation and numerous discovery-related victories in matters of first impression under New Jersey law, Robbins LLP secured a $10 million cash recovery for the Company. In approving the settlement, the Honorable Stanley R. Chesler noted that the settlement was "not only a reasonable recovery, it is a remarkable recovery and is a tribute to plaintiffs and plaintiffs' lawyer efforts in this case." (Transcript of Motion on Final Settlement Approval at 19-20).
In re Prudential Financial Inc. Derivative Litigation, No. 2:20-cv-12772-SRC-CLW (Dist. NJ June 9, 2025)
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