Jan 18, 2018 (ACCESSWIRE via COMTEX) — NEW YORK, NY / ACCESSWIRE / January 18, 2018 / Pomerantz LLP is investigating claims on behalf of investors of Aflac Incorporated (“Aflac” or the “Company”)
Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 9980.
The investigation concerns whether Aflac and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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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 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 this news, Aflac’s share price has fallen sharply during intra-day trading on January 12, 2018.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
SOURCE: Pomerantz LLP
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