The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Aflac Incorporated (NYSE: AFL) who purchased shares between February 27, 2013 and January 11, 2018. The action, which was filed in the United States District Court for the Middle District of Georgia, alleges that the Company violated federal securities laws.
In particular, the complaint alleges that throughout the Class Period, defendants made materially false and/or misleading statements and/or failed to disclose that (i) Aflac hired its sales associates under false promises of high compensation packages and work-life-balance; (ii) Aflac misclassified its employees as independent contractors to reduce costs associated with unemployment insurance taxes and employment benefits; (iii) Aflac manipulated its average weekly producer equivalent metric to fabricate growth; (iv) consequently, Aflac violated its Code of Conduct and corporate social responsibility standards, and (v) as a result of the foregoing, Aflacâ€™s public statements were materially false and misleading at all relevant times.
Shareholders have until April 16, 2018 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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