GL INVESTOR ALERT: Bronstein, Gewirtz & Grossman LLC announces that Globe Life Inc. investors who have suffered substantial losses have the opportunity to pursue a class action lawsuit!

NEW YORK, May 8, 2024 /PRNewswire/ — Attorney Advertising — Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against Globe Life Inc. (“Globe Life” or “the Company”) (NYSE: GL) and certain of its officers.

Class definition:

This lawsuit seeks damages against the defendants for alleged violations of the federal securities laws on behalf of all persons and entities who purchased or otherwise acquired Globe Life securities between May 8, 2019 and May 10. April 2024 inclusive (the “Class Period”). . These investors are encouraged to join this deal by visiting the company’s website: bgandg.com/GL.

Case details:

According to the complaint, Globe Life is an insurance company headquartered in McKinney, Texas, 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, both in terms of premiums collected and number of sales agents employed, is the American Income Life Insurance Company (“AIL”).

Throughout the class period, according to the complaint, Globe Life touted its consistent revenue growth, particularly from AIL, which accounted for 50% of the company’s profits in 2022 and 2023. During the class During the class period, Globe Life reported consistent growth in premium revenue at the Company, driven by consistent growth in premium revenue at AIL. The Company also stated that its employees adhered to a code of conduct which expressly prohibited various forms of misconduct and which required all Globe Life employees to comply with applicable laws and regulations, purportedly ensuring that the Company would maintain a place of work free of violence, threatening behavior and illegal drugs.

The complaint alleges that as a result of Defendants’ misrepresentations, Globe Life’s common stock traded at artificially inflated prices throughout the Class Period.

The truth emerged on April 11, 2024, when, according to the complaint, investment research firm Fuzzy Panda released a report alleging that Globe Life had engaged in widespread insurance fraud, while enabling a culture of uncontrolled sexual harassment. Specifically, the report alleged that several Globe Life subsidiaries purchased policies for deceased and fictitious individuals, and added policies to existing user accounts without their consent. Additionally, the investment research firm uncovered evidence that the subsidiaries maintained a hostile workplace where sexual harassment, drug use and sexual assault went unchecked – conduct that violated the code of conduct of the company.

As a result of these disclosures, according to the complaint, the price of Globe Life’s 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 in April. 11, 2024.

And after?

A class action lawsuit has already been filed. If you would like to view a copy of the complaint, you can visit the firm’s website: bgandg.com/GL or you can contact Peretz Bronstein, Esq. or its Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC at 332-239-2660. If you suffered a loss in Globe Life, you have until July 1, 2024 to ask the court to appoint you as lead plaintiff. Your ability to participate in any recovery does not require that you be the lead plaintiff.

There is no cost to you

We represent investors in class actions on a contingency fee basis. This means that we will ask the court to reimburse us for out-of-pocket expenses and attorney’s fees, usually a percentage of the total recovery, only if we win our case.

Why Bronstein, Gewirtz & Grossman:

Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm representing investors in securities fraud class actions and shareholder derivative lawsuits. Our firm has recovered hundreds of millions of dollars for investors nationwide.

Lawyer advertising. Previous results do not guarantee similar results.

Contact:

Bronstein, Gewirtz & Grossman, LLC

Peretz Bronstein or Nathan Miller,

332-239-2660 | [email protected]

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SOURCE Bronstein, Gewirtz & Grossman, LLC