Metlife Inc (NYSE: MET) is having a relatively rough time in the market at the moment, and for good reason. News is breaking at the moment that the United States Security Exchange Commission (SEC) has filed charges against the company. Today, we’ll talk about:
- The charges;
- what we’re seeing from MET as a result; and
- what we’ll be watching for ahead.
MET Falls On Fraud Charges
As mentioned above, Metlife is having a rough time in the market at the moment as news breaks. Just minutes ago, news broke that the company is the center of charges being charged by the SEC. While there isn’t much information available just yet, we have learned that the charges that were filed had to do with fraud. According to sources, the SEC has filed the fraud charges based on the idea that MET has not paid pensions. Nonetheless, the story is still breaking and more information should be available soon.
What We’re Seeing From The Stock
Metlife started the session in the red and has been slowly moving downward since. However, over the last few minutes, the stock has fallen further as investors catch wind about the company being charged with fraud. Of course, the news proved to be upsetting to investors who are sending the stock down. At the moment (10:55), MET is trading at $45.09 per share after a loss of $0.62 per share or 1.35% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on MET. In particular, we’re interested in following the story surrounding the news of the charges filed on the company. Nonetheless, we’ll continue to follow the news closely and bring it to you as it breaks!
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