LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, announces that a class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Globe Life Inc. (“Globe Life” or the “Company”) (NYSE: GL) common stock between May 8, 2019 and April 10, 2024, inclusive (the “Class Period”). Globe Life investors have until July 1, 2024 to file a lead plaintiff motion.
If you suffered a loss on your Globe Life investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/Globe-Life-Inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more about your rights.
On April 11, 2024, Fuzzy Panda Research published a report alleging, among other things, that Globe Life is engaged in widespread insurance fraud including withdrawing funds from consumer bank accounts without approval, writing policies for dead and fictitious people, forging customer signatures and actuarial fraud.
On this news, Globe Life’s stock price fell $55.76, or 53.11%, to close at $49.17 per share on April 11, 2024, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Globe Life was engaged in wide-spread insurance fraud, therefore inflating Globe Life’s financial results; (2) Globe Life permitted a culture of unchecked sexual harassment, in direct contravention of the Company’s Code of Conduct; and (3) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
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If you purchased or otherwise acquired Globe Life common stock during the Class Period, you may move the Court no later than July 1, 2024 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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