Lincoln National Escapes Investor Suit on Insurance Reserves

Lincoln National Corp. was freed from a proposed class action in federal district court alleging it misled investors about factors affecting reserves in its life insurance business.

The pension trust fund leading the lawsuit said it would appeal rather than file another amended complaint, prompting Judge John F. Murphy to order the case closed Thursday. The US District Court for the Eastern District of Pennsylvania had tossed the suit with room to replead last month, saying Local 295 IBT Employer Group Pension Trust Fund had failed to adequately allege statements were misleading when made or the level of intent for ...