| COMPANY |
Globe Life Inc. |
| COURT |
United States District Court for the Eastern District of Texas |
| CASE NUMBER |
24-cv-00376 |
| JUDGE |
The Hon. Amos L. Mazzant, III |
| CLASS PERIOD |
May 8, 2019 through April 10, 2024 |
| SECURITY TYPE |
Common Stock |
LEAD PLAINTIFF DEADLINE IS JULY 1, 2024.
A class action lawsuit has been filed on behalf of those who purchased or acquired Globe Life Inc. (“Globe Life") (NYSE: GL) securities between May 8, 2019 and April 10, 2024, both dates inclusive (the “Class Period”).
Case Background:
On April 11, 2024, investment research firm Fuzzy Panda reported that Globe Life and its subsidiaries had engaged in widespread insurance fraud by adding policies to existing users accounts without their consent, as well as underwriting policies for dead and fictitious people. The report also alleged that Globe Life maintained a hostile workplace where drug use, sexual harassment, and sexual assault went unchecked. Following this news, the price of Globe Life shares declined by $55.76 per share, or approximately 53%, from $104.93 per share on April 10, 2024 to close at $49.17 on April 11, 2024.
The complaint alleges that, throughout the Class Period, Defendants made numerous materially false and misleading statements and omissions concerning: (1) Globe Life’s consistent premium revenue growth, particularly from its subsidiary American Income Life Insurance Company; and (2) Globe Life’s Code of Business Conduct and Ethics (the Code of Conduct). As a result, Globe Life was engaged in wide-spread insurance fraud, therefore inflating Globe Life’s financial results, and Globe Life permitted a culture of unchecked sexual harassment, in direct contravention of the company’s Code of Conduct.
A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Filling out the online form above or communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jonathan Naji, Esq. (484) 270-1453 or via e-mail at info@ktmc.com.