NEW YORK, April 20, 2024 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Globe Life Inc. (“Globe Life” or the “Company”) (NYSE: GL). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980
The investigation concerns whether Globe Life and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On April 11, 2024, Fuzzy Panda Research (“Fuzzy Panda”) published a report on Globe Life entitled “Globe Life (GL): Executives Disregarded Wide-Ranging ‘Insurance Fraud‘ While They Received Millions in Undisclosed Kick-Back Scheme.” In the report, Fuzzy Panda claimed to have “uncovered extensive allegations of insurance fraud ignored by management despite being obvious and reported hundreds of times,” including policies written for dead and fictitious people. Citing interviews with former executives and sales agent, the report also alleged that third-party policy sellers known to have committed insurance fraud accounted for over 60% of new business for the Company’s American Income Life division.
On this news, Globe Life’s stock price fell $55.76 per share, or 53.14%, to close at $49.17 per share on April 11, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980
SOURCE Pomerantz LLP
