Globe Life Inc. (NYSE: GL) Investor Noitce: Lawsuit seeks to recover losses for Investors in NYSE: GL

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A shareholder of Globe Life Inc. (NYSE: GL) filed a lawsuit in the U.S. District Court for the Eastern District of Texas, alleging that the company, also known as Torchmark Corporation, violated federal securities laws by making false and misleading statements between May 8, 2019, and April 10, 2024.

You have specific options, and for some investors, there are tight deadlines, if you bought a sizable quantity of Globe Life Inc. (NYSE: GL) shares between May 8, 2019, and April 10, 2024, and/or if you bought any NYSE: GL shares before May 2019 and you still own any of those shares. Closing date: July 1, 2024. NYSE: GL investors can reach out to the Shareholders Foundation by phone at (858) 779-1554 or by email at [email protected].

Globe Life Inc., an insurance provider with headquarters in McKinney, Texas, provides a variety of insurance products, such as mortgage protection, supplemental health insurance, and life insurance. Five fully owned insurance subsidiaries are run by Globe Life. American Income Life Insurance Company is the biggest in terms of both the number of sales agents it employs and the amount of premiums it collects.

The plaintiff claims that Globe Life Inc. boasted about its steady revenue growth, especially from AIL, which contributed 50% of the company’s profits in 2022 and 2023. The plaintiff further claims that between May 8, 2019, and April 10, 2024, Globe Life Inc. reported consistent premium revenue growth at the company, driven primarily by consistent premium revenue growth at AIL. Additionally, the company claimed that all of its employees complied with applicable laws and regulations and that all employees adhered to a Code of Conduct that specifically forbade various forms of misconduct.

A report titled Globe Life (GL): Executives Disregarded Wide-Ranging Insurance Fraud While They Received Millions in Undisclosed Kick-Back Scheme was released on April 11, 2024 by Fuzzy Panda Research. The management disregarded the insurance fraud that was allegedly highlighted in the report. The report also included claims that policies were written for real and deceased individuals, that signatures were obtained under duress, that money was taken out of customers’ bank accounts without their consent, and that several bogus policies were funded by false bank accounts.

Globe Life Inc. (NYSE: GL) saw a decrease in share price from $132.00 on February 22, 2024, to as low as $38.95 on April 11, 2024.

In the complaint, the plaintiff claims that the defendants broke federal securities laws while selling common shares of Globe Life Inc. (NYSE: GL) between May 8, 2019, and April 10, 2024. The plaintiff specifically alleges that between May 8, 2019, and April 10, 2024, the defendants consistently blamed rising premium revenue growth for the company’s increased agent count and productivity. Additionally, the company committed to providing an inclusive and welcoming environment; violence and threatening behavior are not tolerated; and the use of illegal drugs in the workplace is not tolerated, according to Globe Life’s Code of Conduct, among other things.

Investors in Globe Life Inc. (NYSE: GL) should get in touch with the Shareholders Foundation as they have several choices.

Get in touch with Investors Foundation, Inc.Michael Daniels: +1-(858)-779-1554; 3111 Camino Del Rio North, Suite 42392108, San Diego(858)[email protected] is the fax number.

About The Shareholders Foundation, Inc.: We are a professional portfolio monitoring and settlement claim filing service that keeps investors informed about securities class actions, settlements, judgments, and other legal news pertaining to the stock and financial markets. We also conduct research on shareholder issues. With a vast network of contacts, Shareholders Foundation, Inc. provides support, guidance, and aid to each and every shareholder. It is not a law firm, The Shareholders Foundation, Inc. The Shareholders Foundation is not involved in the filed, reached, or settled cases, investigations, or settlements mentioned. The public is offered this information as a service. It should not be relied upon and is not meant to be legal advice.

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