Kuznicki Law PLLC notifies investors that a class action has commenced in the United States District Court for the Eastern District of Texas on behalf of shareholders of Globe Life Inc. f/k/a Torchmark Corporation who purchased shares between May 8, 2019 and April 10, 2024.
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 Perion’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.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until July 1, 2024 to request that the court appoint them lead plaintiff.