|Company name||Aflac Incorporated|
NEW YORK, January 16, 2018 – Bragar Eagel & Squire, P.C. is investigating potential claims against the board of directors of Aflac Incorporated (NYSE: AFL). Our investigation concerns potential breach of fiduciary duty and securities claims.
On January 11, 2018, post-market, The Intercept published an article 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 the allegations, the article suggests Aflac employees were pressured “to meet sales goals selling policies without customer authorization or consent” and to engage in illegal bundling policies. Additionally, the article suggests that whistleblowers faced retaliation and that the Company engaged in earnings statement manipulation “moving sales earned in certain weeks into different quarters to hit numbers.”
Following this news, Aflac’s shares fell $6.75 per share, or 7.4%, on January 12, 2018.
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