A lawsuit was filed on behalf of investors in AFLAC Incorporated (NYSE:AFL) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 02/27/2018 -- An investor, who purchased NYSE:AFL shares , filed a lawsuit over alleged violations of Federal Securities Laws by AFLAC Incorporated.
Investors who purchased shares of AFLAC Incorporated (NYSE: AFL) have certain options and for certain investors are short and strict deadlines running. Deadline: April 16, 2018. NYSE: AFL investors should contact the Shareholders Foundation at email@example.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 January 12, 2018, AFLAC Incorporated issued a statement regarding the allegations and said they contain false allegations made by a very small group of independent contractors and that AFLAC Incorporated intends to aggressively fight these allegations beginning
The plaintiff claims that between February 27, 2013 and January 11, 2018, 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 shares of AFLAC Incorporated (NYSE: AFL) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
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