Globe Life falls after receiving informal SEC inquiry into short-seller reports

Globe Life

21/05/2024 13:14

** Shares of insurer Globe Life  GL.N  fall 2.1% to $84.25
premarket
    ** GL receives prelim, informal inquiry from SEC requesting
information related to the recent short-seller reports making
allegations about company
    ** Co has not received notification of formal investigation
from SEC 
    ** Fuzzy Panda Research disclosed short position in the
company in early April alleging multiple instances of insurance
fraud
    ** Viceroy Research also revealed a short position in the
company later in the month
    ** Stock is down ~26% from the beginning of April

 (Reporting by Pritam Biswas in Bengaluru)
 ((Pritam.Biswas@thomsonreuters.com))