MCKINNEY, Texas, April 11,
2024 /PRNewswire/ -- Globe Life Inc. (NYSE: GL)
today issued the following statement refuting the allegations
raised in a report issued today by Fuzzy Panda Research:
For over 70 years, our business model has
stood the test of the time and we continue to generate sustainable
earnings growth that provides long-term value for our shareholders.
With over 17 million policies in force, our millions of 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 push inflammatory allegations 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 pushed by plaintiff law firms to coerce Globe Life
into settlements. The motivations behind this short seller's report
are driven solely by short-term profit earned on the backs of the
thousands of shareholders, hardworking employees, independent
contractor sales agents and customers who know and trust our brand
and strong track record. We have successfully defended ourselves
against these types of claims. The short seller analysis by
Fuzzy Panda Research mischaracterizes facts and uses
unsubstantiated claims and conjecture to present an overall picture
of Globe Life that is deliberately false, misleading and
defamatory. Globe Life intends to explore all means of legal
recourse against the parties responsible.
Globe Life strives to act in accordance 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 concerning unethical business practices, sexual
harassment and inappropriate conduct and we do not tolerate such
behavior.
We intend to more fully rebut these
allegations in the near future. Rest assured we are steadfast in
our commitment to delivering sustainable earnings growth that
provides substantial value for our shareholders. Our dedication to
providing the highest quality to our customers remains
unwavering.
Globe Life Inc. is a holding company specializing in life and
supplemental health insurance for the middle-income market
distributed through multiple channels, including direct to consumer
and exclusive and independent agencies.
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SOURCE Globe Life Inc.