Robbins Geller Rudman & Dowd LLP Announces Proposed Settlement of Prudential Financial, Inc. Securities Litigation

NEWARK, N.J., July 11, 2016 /PRNewswire/ -- The following statement is being issued by Robbins Geller Rudman & Dowd LLP regarding the Prudential Financial, Inc. Securities Litigation:

TO:      ALL PERSONS WHO PURCHASED OR OTHERWISE ACQUIRED THE PUBLICLY TRADED COMMON STOCK OF PRUDENTIAL FINANCIAL, INC. ("PRUDENTIAL") DURING THE PERIOD FROM MAY 5, 2010 THROUGH AND INCLUDING NOVEMBER 4, 2011, AND WERE ALLEGEDLY DAMAGED THEREBY

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the District of New Jersey, that a hearing will be held on September 28, 2016, at 2:00 PM, before the Honorable Madeline Cox Arleo, United States District Judge, at the United States District Court for the District of New Jersey, Martin Luther King Building & U.S. Courthouse, 50 Walnut Street, Newark, New Jersey, for the purpose of determining: (1) whether the proposed Settlement of the claims in the Litigation for the principal amount of $33 million, plus interest, should be approved by the Court as fair, reasonable, and adequate; (2) whether a Final Judgment and Order of Dismissal with Prejudice should be entered by the Court dismissing the Litigation with prejudice; (3) whether the Plan of Allocation of Settlement proceeds is fair, reasonable, and adequate and should be approved; and (4) whether the application of Lead Counsel for the payment of attorneys' fees and expenses and Lead Plaintiffs' expenses in connection with this Litigation should be approved.

IF YOU PURCHASED OR OTHERWISE ACQUIRED ANY PRUDENTIAL PUBLICLY TRADED COMMON STOCK DURING THE PERIOD FROM MAY 5, 2010 THROUGH AND INCLUDING NOVEMBER 4, 2011, YOUR RIGHTS MAY BE AFFECTED BY THE SETTLEMENT OF THIS LITIGATION.  If you have not received a detailed Notice of Proposed Settlement of Class Action ("Notice") and a copy of the Proof of Claim and Release form, you may obtain copies by writing to PFI Securities Litigation, Claims Administrator, c/o Gilardi & Co. LLC, P.O. Box 30214, College Station, TX 77842-3214, or on the internet at www.PFIsecuritieslitigation.com.  If you are a Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release by mail or online so that it is postmarked (if mailed) or received (if submitted online) no later than November 2, 2016, establishing that you are entitled to recovery.  You will be bound by any judgment rendered in the Litigation unless you request to be excluded, in writing, to PFI Securities Litigation, Claims Administrator, c/o Gilardi & Co. LLC, 3301 Kerner Blvd., San Rafael, CA 94901, postmarked by September 8, 2016.

Any objection to the Settlement, the Plan of Allocation, or the fee and expense application must be received, not simply postmarked, by each of the following recipients no later than September 8, 2016:

PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE.  If you have any questions about the Settlement, you may contact counsel for Lead Plaintiffs at the addresses listed above.

SOURCE Robbins Geller Rudman & Dowd LLP