SAN DIEGO, CA / ACCESSWIRE / February 21, 2018 / The Shareholders Foundation, Inc. announces that a lawsuit was filed for certain investors in AFLAC Incorporated (NYSE: AFL) shares.
Investors, who purchased shares of AFLAC Incorporated (NYSE: AFL) in 2015 or earlier and continue to hold any of your NYSE: AFL shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On January 11, 2018, an article was published entitled "Behind the Duck: Former Aflac Employees Allege Fraud and Abuse in Nearly Every Aspect of Company." Citing "interviews with multiple current and former employees, as well as three previously unreported lawsuits," the article reported that "Aflac has exploited workers, manipulated its accounting, and deceived shareholders and customers." Among other issues, the article described "employees under pressure to meet sales goals selling policies without customer authorization or consent, illegally 'bundling' policies, and issuing others to ineligible customers"; the Company's "[m]assaging of key operational metrics to prove company growth to investors"; "[e]arnings statement manipulation, by moving sales earned in certain weeks into different quarters to hit numbers"; and "[r]etaliation against whistleblowers."
On February 13, 2018, a lawsuit was filed against AFLAC Incorporated over alleged securities laws violations. The plaintiff claims that the defendants issued materially false and/or misleading statements and/or failed to disclose that Aflac hired its sales associates under false promises of high compensation packages and work-life-balance, that Aflac misclassified its employees as independent contractors to reduce costs associated with unemployment insurance taxes and employment benefits, that Aflac manipulated its average weekly producer equivalent metric to fabricate growth, that consequently, Aflac violated its Code of Conduct and corporate social responsibility standards, and that as a result of the foregoing, Aflac's public statements were materially false and misleading at all relevant times.
Those who purchased AFLAC Incorporated (NYSE: AFL) shares should contact the Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
SOURCE: Shareholders Foundation, Inc.
