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GLOBE LIFE, INC.  INVESTORS: Pending Deadline of Lead Plaintiff in GL Securities Fraud Class Action;  Shareholders should contact Robbins LLP for information

GLOBE LIFE, INC. INVESTORS: Pending Deadline of Lead Plaintiff in GL Securities Fraud Class Action; Shareholders should contact Robbins LLP for information

GLOBE LIFE, INC.  INVESTORS: Pending Deadline of Lead Plaintiff in GL Securities Fraud Class Action;  Shareholders should contact Robbins LLP for information

SAN DIEGO, June 20, 2024 (GLOBE NEWSWIRE) — Robbins LLP reminds investors that a shareholder has filed a class action on behalf of all persons and entities that acquired or otherwise acquired Globe Life, Inc. f/k/a Torchmark Corporation (NYSE: GL) common stock between May 8, 2019 and April 10, 2024. Globe Life is an insurance company that offers a wide range of insurance products, including life insurance, mortgage protection and supplemental insurance of health. Globe Life operates five wholly owned insurance subsidiaries with the largest being Income Life Insurance Company (“AIL”).

For more information, submit a form, email Attorney Aaron Dumas, Jr., or call us at (800) 350-6003.

The charges: Robbins LLP is investigating allegations that Globe Life, Inc. (GL) engaged in insurance fraud

According to the complaint, during the class period, Globe Life touted its steady revenue growth, particularly from AIL, which accounted for 50% of the company’s profits in 2022 and 2023. During the class period, Globe Life reported a steady growth in premium income at the Company, led by steady growth in premium income at AIL. The company also said its employees have adhered to a Code of Conduct that requires all Globe Life employees to comply with relevant laws and regulations, ensuring that the company will maintain a workplace free of violence, threatening behavior and illegal drugs .

The complaint alleges that the truth emerged on April 11, 2024, when investment research firm Fuzzy Panda published a report alleging that Globe Life engaged in widespread insurance fraud while enabling a culture of sexual harassment uncontrolled. Specifically, the report alleged that several Globe Life branches were underwriting policies for dead and fictitious persons, as well as adding policies to existing users’ accounts without their consent. In addition, the investment research firm found evidence that the subsidiaries maintained a hostile workplace where sexual harassment, drug use and sexual assault were rampant – behavior that violated the company’s Code of Conduct.

As a result of these disclosures, the price of Globe Life common stock decreased by $55.76, or 53%, from a closing price of $104.93 per share on April 10, 2024 to a closing price of $49.17 per share on April 11, 2024.

What now: You may be eligible to participate in the class action against Globe Life, Inc. Shareholders who wish to serve as lead plaintiffs for the class must file motions with the court by July 1, 2024. A lead plaintiff is a representative party acting on behalf of other class members in conducting the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose not to take any action, you may remain an absent class member. For more information, click Here.

All representation is on a contingency fee basis. Shareholders do not pay commissions or expenses.

About Robbins LLP: Some law firms issuing briefs on this matter are not actually litigating securities class actions; Robbins LLP does. A recognized leader in shareholder rights litigation, the attorneys and staff at Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company directors accountable for their wrongdoing since 2002. Since our founding , we raised over $1 billion. for shareholders.

To be notified if a class action against Globe Life, Inc. is resolved or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock watch today.

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A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/38f2561c-6b78-4537-b668-3e9deda4fa03