NEW ORLEANS, May 07, 2024 (GLOBE NEWSWIRE) — Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until July 1, 2024 to file lead plaintiff applications in a securities class action lawsuit against Globe Life Inc. f/k/a Torchmark Corporation (NYSE: GL), if they purchased or otherwise acquired the Company’s shares between May 8, 2019 and April 10, 2024, inclusive (the “Class Period”). Long term holders of GL are also encouraged to contact the firm. This action is pending in the United States District Court for the Eastern District of Texas.
What You May Do
If you purchased shares of Globe Life and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nyse-gl/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by July 1, 2024.
About the Lawsuit
Globe Life and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On April 11, 2024, investment research firm Fuzzy Panda reported that the Company and its subsidiaries had engaged in widespread insurance fraud by adding policies to existing users’ accounts without consent, underwriting policies for dead and fictitious people, and also maintained a hostile workplace where sexual harassment, drug use, and sexual assault went unchecked.
On this news, the price of Globe Life’s shares fell by $55.76 per share, 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.
The case is City of Miami General Employees’ & Sanitation Employees’ Retirement Trust v. Globe Life Inc., et al, No. 24-cv-376.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
1100 Poydras St., Suite 960
New Orleans, LA 70163
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