Panel Says Shareholders Plausibly Allege Falsity For 1 Statement In Securities Suit

(June 15, 2023, 1:14 PM EDT) -- PHILADELPHIA — The Third Circuit U.S. Court of Appeals vacated a portion of a district court’s ruling in a securities fraud suit after determining that shareholders of Prudential Financial Inc. plausibly alleged falsity in an amended complaint with regard to a statement made by Prudential’s chief financial officer about the financial health of the company’s life insurance business segment only two months before a drop in the company’s stock prices following the company’s corrective disclosure that the life insurance business segment would sustain an operating loss....