NEW YORK, Feb. 26, 2018 /PRNewswire/ -- Kaplan Fox
& Kilsheimer LLP (www.kaplanfox.com) is investigating claims on
behalf of investors of Aflac Incorporated ("Aflac" or the
"Company") (NYSE: AFL). Investors who purchased Aflac common
stock between February 27, 2013 and
January 11, 2018, inclusive (the
"Class Period"), may be affected.
A class action complaint alleging violations of the Securities
Exchange Act of 1934 has been filed in the United States District Court for the
District of Georgia against Aflac
and certain executives.
Aflac purportedly offers voluntary insurance policies designed
to supplement traditional health insurance and protect individuals
from depletion of assets and loss-of-income. Its products
purportedly include insurance plans for accidents, cancer, critical
illness/care, hospital indemnity, fixed-benefit dental, vision care
life and short-term disability.
On January 11, 2018, post-market,
the a publication called "The Intercept" published an article
entitled "BEHIND THE DUCK: FORMER AFLAC EMPLOYEES ALLEGE FRAUD AND
ABUSE IN NEARLY EVERY ASPECT OF COMPANY," revealing allegations by
nine former Alfac employees of widespread fraud and abuse across
the Company. The allegations were made in lawsuits brought by
the employees against the Company.
The first trading day following the publication of the
January 11 article, Aflac's common
stock declined by $6.75 per share, or
about 7.4%, to close at $84.94 per
share on heavy trading volume.
The class action complaint alleges that throughout the Class
Period, the defendants made materially false and/or misleading
statements and/or failed to disclose that (1) Aflac hired its sales
associates under false compensation packages and work-life-balance,
(2) Aflac misclassified its employees as independent contractors to
reduce costs associated with unemployment insurance taxes and
employment benefits, (3) Aflac manipulated its average weekly
producer equivalent metric to fabricate growth, (4) consequently,
Aflac violated its Code of Conduct and corporate social
responsibility standards, and (5) as a result of the foregoing,
Aflac's public statements were materially false and misleading at
all relevant times.
If you are a member of the proposed Class, you may move the
court no later than April 16, 2018 to
serve as a lead plaintiff for the purported class. You need
not seek to become a lead plaintiff in order to share in any
possible recovery. If you would like to discuss the complaint
or our investigation, please contact us by emailing
pmayer@kaplanfox.com or by calling 800-290-1952. This press
release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Kaplan Fox & Kilsheimer LLP,
with offices in New York,
San Francisco, Los Angeles, Chicago and New
Jersey, has many years of experience in prosecuting investor
class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit
our website at www.kaplanfox.com. If you have any questions
about this Notice, the action, your rights, or your interests,
please contact:
Jeffrey P. Campisi
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(800) 290-1952
(212) 687-1980
Fax: (212) 687-7714
E-mail: jcampisi@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
350 Sansome Street, Suite 400
San Francisco, California
94104
(415) 772-4700
Fax: (415) 772-4707
E-mail: lking@kaplanfox.com
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SOURCE Kaplan Fox &
Kilsheimer LLP