Globe Life Inc 8-K, filed Mar 14, 2024
Globe Life Inc. (GL)
8-K
2024-03-14
For: 2024-03-14
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Added on
April 08, 2026
About this 8-K
Globe Life Inc filed this 8-K on March 14, 2024.
Items reported
- Item 8.01: Other events
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 14, 2024
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Item 8.01 Other Events.
Globe Life Inc. (“Globe Life”) is filing this Current Report on Form 8-K to provide an update and additional information with respect to comments made during Globe Life’s Conference Call for 4th Quarter 2023 Earnings on February 8, 2024 (the “Earnings Call”) about a matter that was pending in litigation at that time.
On April 11, 2022, a former independent sales agent (“Claimant”) filed suit against Globe Life subsidiary American Income Life Insurance Company (“AIL”); Simon Arias III, Arias Agencies, and S.A. Holdings, LLC (collectively, “Arias”); and a former independent contractor sales agent, Michael Russin, in the United States District Court for the Western District of Pennsylvania. Claimant alleged, among other things, that she was misclassified as an independent contractor, was subject to a hostile work environment and sexual harassment by Russin, and that AIL was vicariously liable for Russin’s conduct. In 2021, prior to the litigation and as soon as AIL became aware of Claimant’s allegations, AIL engaged an external third party to conduct an impartial and thorough investigation. AIL took prompt and appropriate action based on that investigation.
AIL and Arias filed motions to compel Claimant’s claims to individual arbitration, which the court granted on July 22, 2022, staying the claims against them pending the conclusion of the arbitration. On September 27, 2022, Claimant filed a demand for arbitration with the American Arbitration Association. A three-arbitrator panel (the “Panel”) was appointed, and the arbitration hearing was scheduled to commence on March 4, 2024.
Prior to the hearing, Claimant dismissed all claims against AIL and Arias with prejudice, and without obtaining any relief or payment from AIL or Arias. The Panel’s Final Order states:
“At 10:37pm on Sunday March 3, 2024, the night before the hearing, scheduled to commence on March 4, 2024 at 9:30am, Claimant’s counsel sent an e-mail purporting to withdraw all of Claimant’s claims. The Panel directed all parties to appear for the hearing as scheduled.... After an extensive discussion on the record, Claimant’s counsel: confirmed they are dismissing all of Claimant’s claims (both pending and previously dismissed) with prejudice; that they have authority from Claimant to do so; and, that Claimant understands and agrees that a dismissal with prejudice will have Preclusive Effect.”
The Panel “dismisse[d] th[e] case with prejudice,” and AIL has filed a motion to confirm the award in the United States District Court for the Western District of Pennsylvania.
As noted in the Earnings Call, these allegations, including allegations regarding unethical business practices and other misconduct by sales agents, were the subject of articles posted by an online publication in 2023. After the Earnings Call, the same publication posted an article regarding document subpoenas received by AIL and Globe Life from the U.S. Attorney’s Office for the Western District of Pennsylvania. The companies are fully cooperating with the government in response to these subpoenas.
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| GLOBE LIFE INC. | ||||||||||||||
Date: March 14, 2024 | ||||||||||||||
| /s/ Christopher T. Moore | ||||||||||||||
| Christopher T. Moore Corporate Senior Vice President, Associate Counsel and Corporate Secretary | ||||||||||||||