The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of Globe Life Inc. (GL) Investors
The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of persons and entities that 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 are a shareholder who suffered a loss, click here to participate.
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, therefor 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 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 purchased Globe Life common stock, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Los Angeles, California 90067 at 310-914-5007, by email to [email protected], or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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