NEW YORK, May 16, 2024 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Primerica, Inc. (“Primerica” or the “Company”) (NYSE: PRI). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Primerica and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On April 18, 2024, The Bear Cave published a short report on Primerica, which described the Company as “a pyramid scheme”. The Bear Cave cited “extensive evidence suggesting that Primerica’s highest producing agents are engaged in misleading, false, or deceptive conduct including 1) a recorded Zoom presentation from a Senior National Sales Director that alleges crooked conduct, ‘fake numbers,’ and appears to suggest an ongoing internal investigation, 2) a text message recruiting script for new agents that appears to deliberately obfuscate their association with Primerica, 3) agent presentations that emphasize recruiting over serving independent customers and 4) a presentation by a high-producing agent saying ‘it’s normal to be a millionaire.'” The Bear Cave also cited “complaints obtained through public records requests”, which “allege forged signatures on six-figure investment contracts” and “‘institutionalized theft[.]'”
Following publication of the Bear Cave report, Primerica’s stock price fell $1.55 per share, or 0.73%, to close at $210.09 per share on April 18, 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
