Globe Life Inc., formerly known as Torchmark Corporation, is currently facing a class action securities lawsuit that aims to recover losses suffered by shareholders who were allegedly impacted by securities fraud between May 8, 2019, and April 10, 2024. The lawsuit alleges that Globe Life engaged in insurance fraud, leading to inflated financial results, and allowed a culture of unchecked sexual harassment, contrary to the company’s Code of Conduct.
During the class period, Globe Life reported consistent premium revenue growth, primarily driven by American Income Life Insurance Company (AIL). The company also claimed that its employees adhered to a code of conduct that prohibited various forms of misconduct, ensuring a workplace free from violence, threatening behavior, and illegal drugs.
However, the lawsuit alleges that Globe Life was involved in widespread insurance fraud, which artificially inflated the company’s financial results. Additionally, the company is accused of permitting a culture of unchecked sexual harassment, directly contradicting its Code of Conduct.
As a result of these alleged misrepresentations, Globe Life’s common stock traded at artificially inflated prices throughout the class period. Shareholders who suffered losses during this time frame are encouraged to learn about their rights to seek a recovery by visiting the provided link.
Levi & Korsinsky LLP, a nationally-recognized securities litigation firm, is representing the shareholders in this class action lawsuit. With over 20 years of experience, the firm has successfully secured hundreds of millions of dollars for aggrieved shareholders and has a proven track record of winning high-stakes cases. Levi & Korsinsky LLP is known for its expertise in complex securities litigation and has been consistently ranked as one of the top securities litigation firms in the United States.
It is important to note that the allegations made in the lawsuit are yet to be proven in court, and Globe Life Inc. has the opportunity to defend itself against these claims. The outcome of the lawsuit will determine the impact on the company and its shareholders.
Please note that this article is for informational purposes only and does not constitute legal advice or an endorsement of any party involved. Shareholders are advised to consult with legal professionals to understand their individual rights and options.
Contact:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
Website: https://zlk.com/