Finance Aflac plummets after allegations that the company deceived shareholders (AFL)

  • Published:

Aflac has called the allegations false after reports that the company "exploited workers, manipulated its accounting, and deceived shareholders and customers."

null play

null

(Flickr/BrownZelip)

  • Shares of Aflac plummeted on Friday after the company was alleged to have "exploited workers, manipulated its accounting, and deceived shareholders and customers."
  • Aflac's shares were down 7.84% to $84.50 a share on Friday.
  • The investigative news site The Intercept first broke the news, interviewing nine former employees who have sued the company over the claims.
  • Aflac released a statement calling the allegations false. The insurer said it had investigated the claims and "found them to be without merit." It intends to file for a dismissal of the lawsuit.
  • Aflac's stock was down 3.14% year-to-date.

Read about the SEC's bust of a $1.2 billion Ponzi scheme that bilked senior citizens.

Subscribe to the Pulselive Newsletter!

Top 3

1 Natural gas Kenya revives plans to build first 700MW natural gas-fired...bullet
2 Ali kiba How Ali kiba makes and spends his moneybullet
3 Finance The new Lincoln Navigator is enormous but sophisticated —...bullet

Go to Pulselive.co.ke