The Fuzzy Panda Research report highlighted various fraudulent practices within Globe Life. The long list includes underwriting policies for deceased or non-existent individuals, forging customer signatures, making unauthorized withdrawals from customers' bank accounts, and misrepresenting policyholders' smoking habits.

According to the report, these fraudulent practices were not isolated to a single sales team, but were widespread across several of the largest agencies contributing significantly to Globe Life's profits.

The report details not only policy-related fraud, but also a problematic corporate culture. According to testimonies from former employees, drug use, sexual harassment and unethical behavior were not only tolerated, but sometimes encouraged to achieve sales targets.

To top it all off, Fuzzy Panda accuses Globe Life of having paid bribes to company executives, an amount estimated at over $65 million.

Following these revelations, the stock lost over 56% of its market value in a single day. In response to these accusations, Globe Life disputed the Fuzzy Panda report, calling it misleading and motivated by short-termist interests.

To distinguish the true from the false, several law firms have announced the launch of an investigation on behalf of Globe Life investors, which could potentially lead to further legal action against the company.