The Law Firm of Levi & Korsinsky Notifies Investors with Losses on Their Investment in MetLife, Inc. of Class Action Lawsuit ...

Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased MetLife, Inc. (“MetLife” or the “Company”) (NYSE: MET) stock between February 2, 2010 and October 6, 2011 (the “Class Period”).

For more information, click here: http://zlk.9nl.com/metlife-met/.

The complaint alleges that defendants’ statements during the Class Period were materially false and misleading in that defendants knew or disregarded that: (a) the Company had not properly or adequately reserved for the payment of benefits to policyholders’ beneficiaries when it knew or had reason to know the policyholders were deceased; (b) the Company’s historical processes, policies and procedures were inadequate to identify current liabilities related to policyholders which had died but whose beneficiary claims had not yet been made; (c) the Company knew to be false its assurances that the allegations regarding the Company’s death benefits practices were without merit; and (d) defendants knew that the Company’s financial results and guidance for its operating earnings during the Class Period were false.

On August 5, 2011, the Company disclosed in its Form 10-Q SEC filing that regulatory investigations into its death benefits practices could result in additional escheatment to the states and administrative penalties. This disclosure caused the Company’s stock price to decline 11% by the following day. Then, on October 6, 2011, the Company filed a Form 8-K with the SEC, stating among other things that it would take at least a $115 million after-tax charge to increase its reserves in connection with its death benefits practices. On this news, the Company’s stock price declined 6% from $30.69 on October 6, 2011 to $28.80 on October 7, 2011.

If you suffered a loss in MetLife you have until March 12, 2012 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (877) 363-5972, or visit http://www.zlk.com/metlife-met.html.

Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. Attorney advertising. Prior results do not guarantee similar outcomes.

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