McKinney, Texas, April 11, 2024 /PRNewswire/ — Globe Life Inc. (NYSE: GL) today issued the following statement refuting the allegations raised in a report released today by Fuzzy Panda Research:
For more than 70 years, our business model has stood the test of time, and we continue to deliver sustainable earnings growth that provides long-term value for our shareholders. With over 17 million policies in effect, millions of our customers value the protection of the company's products, and we strive to be there when our customers need us most.
We are disappointed today to see self-motivated short sellers pushing inflammatory claims in order to drive down Globe Life's stock price. We reviewed the report and found it to be wildly misleading, mixing anonymous allegations with recycled points made by plaintiff law firms to force Globe Life into settlements. This short seller report is driven solely by short-term profit made at the expense of thousands of shareholders, hardworking employees, independent contractor sales agents, and customers who know and trust our strong brand and track record. We have successfully defended ourselves against these types of claims. Fuzzy Panda Research's short seller analysis misrepresents facts and uses unsubstantiated claims and conjecture to present a comprehensive picture of Globe Life that is intentionally false, misleading and defamatory. Globe Life intends to explore all legal recourse against the responsible parties.
Globe Life strives to conduct itself with the highest level of ethics and integrity at all levels of the organization and to comply with all government regulations. American Income Life (AIL) has processes in place to review, investigate and address all allegations brought to the company's attention regarding unethical business practices, sexual harassment and inappropriate conduct, and we do not tolerate such behavior.
We intend to fully refute these allegations in the near future. Rest assured that we are steadfast in our commitment to achieving sustainable earnings growth that provides significant value to our shareholders. Our dedication to providing the highest quality to our customers remains unwavering.
Globe Life Inc. It is a holding company specializing in life and supplemental health insurance for the middle-income market and is distributed through multiple channels, including direct-to-consumer insurance and exclusive and independent agencies.
Source: Globe Life Company
