The embattled insurer Globe Life and its subsidiary American Income Life face new allegations of fraud, kickbacks, and misclassifying its army of sales agents. The charges appear in a new report from Viceroy Research, the third scathing short-seller report on Globe. It comes on the heels of short-sale recommendations by Orso Partners’ Nate Koppikar and the anonymous trader Fuzzy Panda earlier this year. Globe said the Viceroy report is “deliberately false, misleading and defamatory.” You can read today’s story here.
Tag Archives: Renee Zinsky
Globe Life’s stock crashed amid federal probes. Here’s everything you need to know
Here’s an update on developments with Globe Life, its subsidiary American Income Life, and Globe’s star agency The Arias Organization.
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. Continue reading
EEOC takes up sexual harassment cases against Globe Life subsidiary
Ten months after my first article about the toxic and dangerous workplace at The Arias Organization, a top life insurance agency of Globe Life, Inc., the EEOC took the unusual step of reopening two sexual harassment claims that it had previously dismissed and a Pennsylvania regulator fined a Globe subsidiary for deceptive consumer practices.
In my series of investigations about Globe, its wholly owned subsidiary American Income Life and Arias, I’ve been documenting a toxic workplace where multiple agents said women were sexually harassed and assaulted, drugs were used openly and customer deceit was widespread. Continue reading
Regulators open probes, Warren Buffett dumps stock as claims of abuse and fraud mount vs a top Globe Life agency
In the months since Insider published my investigation into alleged sexual assault, drug use, and customer abuses at a major insurance agency based in Wexford, Pa., insurance regulators showed up unannounced at the company’s headquarters and Warren Buffett has dumped more than half of his investment in the agency’s parent — Globe Life. Here’s a link to my story today.
Fallout for Globe Life, Arias Organization, after Insider.com article
Two weeks after Insider.com published my story about sexual assault, drug use and violence at a top insurance agency of Globe Life American Income Division, the story has been cited in multiple court filings in a civil suit. A spokesperson for the Texas Rangers, the Major League Baseball team that plays on Globe Life Field, said the Rangers are “aware” of the allegations against Globe’s Arias Organization. The Feb. 24 story depicted a toxic workplace at Arias Organization, based in Wexford, Pennsylvania. Continue reading