Aflac plummets after allegations that the company deceived shareholders
Kimberly ChinJan 13, 2018, 12.46 AM
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- 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.