09:21 AM EDT, 04/12/2024 (MT Newswires) -- (Updates with stock movement in headline and last paragraph.)

Globe Life ( GL ) on Thursday refuted what it described as "unsubstantiated" claims in a report by short-seller Fuzzy Panda Research alleging its executives disregarded insurance fraud.

"We reviewed the report and found it to be wildly misleading, mixing anonymous allegations with recycled points pushed by plaintiff law firms to coerce Globe Life ( GL ) into settlements," the company said.

Fuzzy Panda said earlier it had a short position in Globe Life ( GL ) shares and alleged that the company's executives "disregarded wide-ranging insurance fraud" while receiving funds in an "undisclosed kick-back scheme."

Globe Life ( GL ) shares were up nearly 17% in recent premarket activity.

Price: 57.98, Change: +8.81, Percent Change: +17.92