According to the Complaint, Globe Life Inc. f/k/a Torchmark Corporation is an insurance company offering a wide range of insurance products, including low-cost life insurance policies that offer comparatively lower payouts. Globe Life operates through five wholly owned insurance subsidiaries, which in turn operate agencies located across the country. AIL is the largest of Globe Life’s subsidiaries, by both premiums collected and number of sales agents employed. Throughout the Class Period, AIL accounted for approximately one third of Globe Life’s total premiums, and nearly half of its total underwriting profits.

On April 11, 2024, investment research firm Fuzzy Panda published a report alleging that Globe Life had engaged in wide-spread insurance fraud, while permitting a culture of unchecked sexual harassment.

The Complaint alleges that, throughout the Class Period, Defendants made numerous materially false and misleading statements and omissions concerning: (i) Globe Life's consistent premium revenue growth, particularly from AIL; and (ii) Globe Life's Code of Business Conduct and Ethics (the "Code of Conduct"). Specifically, the Complaint alleges Defendants repeatedly attributed the Company's consistent premium revenue growth "to increased agent count and productivity." The Complaint alleges that as a result of these misrepresentations, Globe Life common stock traded at artificially inflated prices during the Class Period.