Globe Life Shares Sink on Short Seller ‘Empty Office’ Claims (1)

Globe Life Inc. shares fell after a short seller said its American Income Life unit appears to have shuttered several major offices.

Shares of Globe Life slid 2.4% to $106.82 at 2:52 p.m. in New York, after tumbling as much as 8.4% earlier Wednesday, after Viceroy Research published a report saying “something is seriously wrong” at AIL and that it has empty offices.

The insurer refuted the short seller report, saying that since the pandemic it had begun transitioning to a virtual business model.

“By enabling our agents to work virtually, providing work flexibility and eliminating overhead costs to better ...