Globe Life: 2024 short-seller reports, SEC and DOJ inquiries and their 2025 closure
Globe Life: 2024 short-seller reports, SEC and DOJ inquiries and their 2025 closure: a public-record watch file compiled by Falling Shares Intelligence from filings and exchange disclosures, as of 2026-11-08. In April 2024 a short seller alleged improper sales practices at American Income Life; Globe Life denied it and shares fell sharply.
From a short-seller report in April 2024 to the closure of SEC and DOJ inquiries in July 2025: what the record shows and what the company says.
Falling Shares Intelligence, Edited by Wung Thomas, Editor-in-Chief. As of .
Summary
- In April 2024 a short seller alleged improper sales practices at American Income Life; Globe Life denied it and shares fell sharply.
- The company disclosed an informal SEC inquiry in May 2024 and a DOJ subpoena.
- In July 2025 the company said both the SEC and the DOJ had closed their investigations, the SEC without recommending enforcement.
Key figures
| SEC closure | 24-25 Jul 2025 (No enforcement recommended) |
|---|---|
| DOJ closure | 28 Jul 2025 (Per company, via aggregator) |
The 2024 short-seller reports
Short-seller report published
Fuzzy Panda Research published a report alleging that Globe Life's largest subsidiary, American Income Life, forged customer signatures, created fake policyholders and issued fraudulent policies to inflate sales. Globe Life called the report deliberately false, misleading and defamatory. Shares fell sharply. (Apr 2024)
Second short seller
Viceroy Research published a later report; one report cited alleged a $43 million kickback scheme involving executives. Viceroy also claimed the company misled investors about the timing of the SEC inquiry. (2024)
Inquiries and company response
Informal SEC inquiry
Globe Life acknowledged receiving a preliminary, informal inquiry from the SEC in May 2024. (May 2024)
DOJ subpoena disclosed
Globe Life disclosed a Department of Justice subpoena and gave details of the probe; an analyst said the disclosure created significant uncertainty for the shares. The probe covered the company and American Income Life. (2024)
Company audit finds no material errors
Globe Life said an independent audit it commissioned found no material errors in its financial statements. (2024)
Outcomes
SEC closes inquiry without enforcement
Globe Life said SEC staff had notified it the investigation had concluded and that staff did not intend to recommend an enforcement action. (24-25 Jul 2025)
DOJ closes investigation
Globe Life said the Department of Justice had closed its investigation of the company and American Income Life. (28 Jul 2025)
Standard
This file compiles regulator and court documents, exchange and SEC filings, company statements and published reporting about Globe Life Inc.. Allegations are attributed to those who made them. An investigation is not a charge, a charge is not a finding, and nothing here is a finding of wrongdoing unless a competent authority has made one. Globe Life denies the short sellers' allegations, and neither the SEC nor the DOJ is reported to have taken action against it. Individuals are not named unless an official document names them and they are central; otherwise roles are used. This is news coverage for information only, not investment advice.
Right of reply
Globe Life Inc., and anyone named in a record cited here, can send corrections or comments to info@fallingshares.com (or directly to the Editor-in-Chief, Wung Thomas, at wungthomas@fallingshares.com). Material responses will be published alongside the relevant entry.