SAN FRANCISCO, Jan. 31, 2018 /PRNewswire/ -- Hagens Berman Sobol Shapiro LLP alerts investors in MetLife, Inc. (NYSE: MET) to the firm's investigation into possible securities law violations related to the Company's announced intent to revise prior year financials. If you purchased MetLife securities between September 1, 2017 and January 29, 2018 and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
or contact Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000 or emailing
On January 29, 2018, MetLife issued a news release stating it postponed its earnings report for its fourth quarter and full year ended December 31, 2017 financial results.
The Company disclosed (1) certain material weaknesses in financial reporting, (2) it expects to increase reserves in total between $525 million and $575 million pretax, (3) it expects revisions to prior periods to be included in MetLife's 2017 Form 10-K, and (4) the SEC enforcement staff has made an inquiry regarding these matters.
This news drove the price of MetLife shares down nearly 9% during intraday trading on January 30, 2018.
"We're focused on MetLife's expected prior period adjustments, whether the Company and management did not follow Generally Accepted Accounting Principles, and damages suffered by MetLife investors," said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding MetLife should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email [email protected].
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Reed Kathrein, 510-725-3000
SOURCE Hagens Berman Sobol Shapiro LLP