BFA law reminds of long-term world

NEW YORK, July 22, 2024 (GLOBE NEWSWIRE) — Leading securities law firm Bleichmar Fonti & Auld LLP announces an investigation into Globe Life Inc. (NYSE:GL) and its directors and certain officers for breach of their fiduciary duties by failing to stop and/or tolerate widespread fraud and sexual harassment at the company.

If you have owned Globe Life for a long time, please send your information to the following address: https://www.bfalaw.com/cases-investigations/globe-life-inc.

Examination details:

A recent investor report has uncovered disturbing allegations that Globe Life is committing insurance fraud on a large scale. The investor report draws on whistleblower complaints, interviews with former employees, public lawsuits, and other credible sources. Based on this information, the report concludes that cases of insurance fraud have been uncovered in the company’s sales agencies, accounting for $200 million of the annual life insurance premiums paid by customers, or around 60% of all premiums. The rampant cases of insurance fraud appear to be due to a perverse bonus structure that compensates agents within a short period of time (usually within 6 months) for the term of an insurance policy, even if the policy itself is canceled shortly thereafter. As a result, sales agents have an incentive to commit fraud, sometimes paying the premiums themselves with bonus funds without the company having much control in the process.

As a result of these unlawful acts, Globe Life is currently involved in numerous litigation and investigations, including an investigation by the Department of Justice (“DOJ”).

BFA is concerned that the Board of Directors and certain officers of Globe Life may have breached their fiduciary duties. BFA intends to take all necessary actions to protect the interests of Globe Life’s shareholders and to ensure that the fiduciaries are held accountable for the Company’s widespread violations of law.

Click here if you are a long-term holder: https://www.bfalaw.com/cases-investigations/globe-life-inc.

What can you do?

If you currently own shares of Globe Life Inc., you may have legal options and be required to provide your information to the company. All representations are made on a contingency basis. There are no costs for you. Shareholders will not be responsible for any court or litigation costs. The Company will seek court approval for any fees and costs.

Send your information to:

https://www.bfalaw.com/cases-investigations/globe-life-inc

Or contact us:
Ross Shikowitz
[email protected]
212-789-3619

Why Bleichmar Fonti & Auld LLP?

Bleichmar Fonti & Auld LLP is a leading international law firm representing plaintiffs in class actions and shareholder litigation. It was named a Top 5 Plaintiffs Firm for 2023 by ISS SCAS and its lawyers have been named Titans of the Plaintiffs’ Bar by Law360 and SuperLawyers by Thompson Reuters. Recent notable successes include BFA recovering over $900 million in value from the board of Tesla, Inc. (subject to court approval) and $420 million from Teva Pharmaceutical Ind. Ltd.

For more information about BFA and its attorneys, visit https://www.bfalaw.com.

https://www.bfalaw.com/cases-investigations/globe-life-inc

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