After an investment research firm dropped a bombshell last month and sent shares of Globe Life Inc. plunging by 53%, the insurance company denied the allegations that officers had concealed fraud and sexual harassment issues.
But this week, the City of Miami’s employees’ retirement trust filed a class-action lawsuit against Globe Life, claiming new charges of deceit that had artificially inflated the value of Globe Life’s stock for more than five years.
The lawsuit, purporting to represent thousands of shareholders in Globe Life, argues that “the tr