Globe Life dips after blogger Edwin Dorsey's accusations of wrongdoing

Globe Life

06/06/2024 16:15

** Shares of life insurer Globe Life  GL.N  fall as much as
3%, last down 2.6% at $81.37
    ** Edwin Dorsey, who runs the Bear Cave substack blog, says
GL issued unwanted insurance policies to consumers after they
only sought insurance quotes
    ** Accuses GL of improperly delaying or denying insurance
payouts and claiming to be unable to locate policies it collects
premiums on
    ** GL did not immediately respond to a Reuters request for
comment
    ** The company has been the target of multiple short seller
attacks since April
    ** As of last close, GL shares were down 31.4% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))