SAN FRANCISCO, April 26, 2024 (GLOBE NEWSWIRE) -- Hagens Berman urges Globe Life Inc. (NYSE:GL) investors who suffered substantial losses to act now by submitting your losses here.
Website: www.hbsslaw.com/investor-fraud/gl
Contact An Attorney Now: GL@hbsslaw.com Phone: 844-916-0895
Globe Life Inc. (GL) Investigation:
Embattled insurance giant Globe Life faces a double whammy: a federal investigation and explosive accusations of fraud.
On Apr. 23, the company revealed that the Department of Justice (DOJ) is probing Globe Life's business practices, particularly sales tactics used by agents selling policies for its largest subsidiary, American Income Life (AIL). The company received subpoenas in late 2023, raising questions about potential wrongdoing.
While Globe Life claims full cooperation, the uncertainty surrounding the investigation hangs heavy. Co-CEO Frank Svoboda admitted the company cannot dismiss the possibility of legal action to follow.
Adding fuel to the fire, activist short-seller Fuzzy Panda Research dropped a bombshell report on Apr. 11, accusing Globe Life of rampant insurance fraud. The Fuzzy Panda report, which relied on interviews with former executives and agents paints a troubling picture of misconduct within AIL. Among the allegations leveled against AIL are:
Policies for the Deceased and Fictitious Individuals: AIL ...