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Globe Life shares down amid SEC's informal inquiry into short-seller reports

Published 2024-05-21, 08:30 a/m
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Shares in Globe Life (NYSE:GL) fell 2% in premarket trading Tuesday after the life and health insurance provider said it had received a preliminary, informal inquiry from the SEC regarding recent allegations made by short sellers.

The company emphasized that the SEC has not started a formal investigation, made any claims against Globe Life, or indicated any intention to do so.

Globe Life does not anticipate that this probe will lead to any significant financial losses.

“Globe Life intends to fully cooperate with the SEC,” the company said in a statement.

“While no assurances can be made, at present management does not believe that it is reasonably possible or probable that this matter will result in a material loss,” it added.

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