A securities class action has been filed in the USDC — E.D.TX. against Globe Life Inc. f/k/a Torchmark Corporation (GL) (“Globe Life” or the “Company”), on behalf of all persons or entities that purchased or otherwise acquired Globe Life common stock between May 8, 2019 and April 10, 2024, both dates inclusive (the “Class Period”).
Globe Life is an insurance company that offers a wide range of insurance products, including life insurance, mortgage protections, and supplemental health insurance. Globe Life operates five wholly owned insurance subsidiaries. The largest, by both premiums collected and number of sales agents employed, is American Income Life Insurance Company (“AIL”).
The Complaint alleges that, throughout the Class Period, Defendants made numerous materially false and misleading statements and omissions concerning:
(1) Globe Life’s consistent premium revenue growth, particularly from AIL; and
(2) Globe Life’s Code of Business Conduct and Ethics (the “Code of Conduct”). Specifically, Defendants repeatedly attributed the Company’s consistent premium revenue growth “to increased agent count and productivity.” In addition, Globe Life’s Code of Conduct stated, among other things, that “[t]he Company is committed to providing an inclusive and welcoming environment,” that “[v]iolence and threatening behavior are not permitted,” and that “[t]he use of illegal drugs in the workplace will not be tolerated.” As a result of these misrepresentation, Globe Life common stock traded at artificially inflated prices during the Class Period, thereby harming investors.
If you purchased Globe Life common stock during the class period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.
About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.