April 11, 2024

Short-seller sends Globe Life shares plunging 53% as insurance giant calls report ‘defamatory,’ threatens legal action

Shares of insurance giant Globe Life Inc. plunged 53% today and trading was halted eight times after a short-seller issued a damning narrative on the company.

In a 36-page investigative report, Fuzzy Panda Research described “extensive allegations of insurance fraud” at Globe’s wholly-owned subsidiary American Income Life, repeatedly citing my coverage for Business Insider.

Globe issued a statement after the close of trading calling the Fuzzy Panda report “wildly misleading” and said it will “explore all means of legal recourse.”

Separately, AIL and Michael Russin, a former Arias manager who was accused of sexual assault in a lawsuit by former agent Renee Zinsky, sought to obtain the names of my sources, filing motions in two sexual harassment complaints. In one of them, Russin asked Zinsky to “identify each and every individual that you are aware spoke with Susan Antilla in preparation of the Insider article.”

You can read today’s story here.