Prudential’s $35 Million Shareholder Settlement Gets Final Nod

Prudential Financial Inc. will pay $35 million to settle a securities class action alleging a company executive made misleading statements about the insurer’s life insurance reserves, under an agreement approved by a federal judge in New Jersey.

Judge Stanley R. Chesler of the US District Court for the District of New Jersey granted final approval of the agreement Thursday and dismissed the case with prejudice. The agreement includes an award of attorneys’ fees set at 25% of the settlement amount—or $8.75 million, and $121,454 in litigation expenses.

The court, on March 20, 2020, appointed the City of Warren Police and ...