Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Globe Life Inc. f/k/a Torchmark Corporation (NYSE: GL) securities.
If you suffered a loss on your Globe Life investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: May 08 2019 - Apr 10 2024
CASE DETAILS: According to the complaint, throughout the Class Period, Globe Life reported consistent premium revenue growth at the Company, led by consistent premium revenue growth at American Income Life Insurance Company (“AIL”). The Company also represented that its employees adhered to a code of conduct that expressly prohibited various forms of misconduct, and which required that all Globe Life employees comply with relevant laws and regulations, purportedly ensuring that the Company would maintain a workplace free from violence, threatening behavior, and illegal drugs. In truth, Globe Life was engaged in wide-spread insurance fraud, therefore inflating Globe Life’s financial results. In addition, Globe Life permitted a culture of unchecked sexual harassment, in direct contravention of the Company’s Code of Conduct. As a result of defendants’ misrepresentations, shares of Globe Life common stock traded at artificially inflated prices throughout the Class Period.
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