Globe Life (GL) Insurance Fraud and Etical Violations Case

E.D. Texas

Court

4:24-cv-00376

Case number

08 May 2019

Class period Start

10 Apr 2024

Class period End

01 Jul 2024

Lead Plaintiff motion deadline

$GL stockholder filed a claim vs. Globe Life for artificially inflating its stock prices through false statements, and violations of Company's own Code of Ethics.
On April 11, 2024, on the news of the real state of affairs at Global, $GL plummeted 53.14%, losing $5.2B+ of shareholder value.
During the Class Period, Globe Life reported consistent premium revenue growth at the Company achieved through increased agent count and productivity.
The Company also represented that its employees adhered to a Code of Conduct that expressly prohibited various forms of misconduct.

On April 11, 2024, investment research firm Fuzzy Panda published a report stating that, since 2017, Globe Life had engaged in widespread insurance fraud, including
underwriting policies for dead and fictitious people,
adding policies to existing customers’ accounts without their consent.
In addition, Fuzzy Panda uncovered evidence that Globe Life subsidiaries maintained a hostile workplace where sexual harassment, drug use, and sexual assault went unchecked.

When the truth emerged, $GL plummeted 53.14%, losing $5.2B+ of shareholder value.

Considering all the representations, investors have reasons to suspect that Globe Life was artificially inflating its stock prices through insurance fraud, and covering up violations of Company's own Code of Ethics.

Globe Life investors can join this case to be notified about potential recovery.

One of the investors has already filed a class action against the Company for insurance fraud and maintaining a hostile workplace in Eastern District of Texas court.

Case Status

Lead Plaintiff Submission

Alleged Offence

Misleading Statements,

Failure to Disclose,

Omissions

Suspected Party

Directors,

Management

Security Type

Stocks

Trade Direction

Long

Shock Event Date

11 April 2024

Filing date

30 April 2024

Lead Plaintiff Deadline

01 July 2024

Globe Life (GL) Insurance Fraud and Etical Violations Case

Collecting participants…