NEW YORK, Feb. 22, 2018 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a
class action lawsuit has been filed against Aflac Incorporated ("Aflac" or the "Company") (NYSE:AFL) and certain of its officers,
on behalf of shareholders who purchased Aflac securities during the period between February 27, 2013 and January 11, 2018, both
dates inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: http://www.bgandg.com/afl.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws
under the Securities Exchange Act of 1934.
The complaint alleges that throughout the Class Period, defendants made materially false and misleading statements and/or failed
to disclose that: (1) Aflac hired its sales associates under false promises of high compensation packages and work- life-balance;
(2) Aflac misclassified its employees as independent contractors to reduce costs associated with unemployment insurance taxes and
employment benefits; (3) Aflac manipulated its average weekly producer equivalent metric to fabricate growth; (4) consequently,
Aflac violated its Code of Conduct and corporate social responsibility standards, and (5) as a result of the foregoing, Aflac’s
public statements were materially false and misleading at all relevant times.
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.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site:
http://www.bgandg.com/afl or you may contact Peretz Bronstein, Esq. or his Investor Relations
Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of
litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class
action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities
arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com