An investigation on behalf of investors of AFLAC Incorporated (NYSE:AFL) shares over potential securities laws violations by AFLAC Inc and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of AFLAC Incorporated (NYSE:AFL) concerning whether a series of statements by AFLAC Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Columbus, GA based Aflac Incorporated is a business holding company that is involved in supplemental health and life insurance, which is marketed and administered through its subsidiary, American Family Life Assurance Company of Columbus (Aflac). AFLAC Incorporated reported that its annual Total Revenue rose from over $21.02 billion in 2015 to over $22.64 billion in 2016 and that its Net Income increased from over $2.53 billion in 2015 to over $2.65 billion in 2016.

Shares of AFLAC Incorporated (NYSE:AFL) grew from $56.61 per share in January 2016 to as high as $91.69 per share on January 11, 2018.

On January 11, 2018, an article was published entitled 'Behind the Duck: Former Aflac Employees Allege Fraud and Abuse in Nearly Every Aspect of Company.' Citing 'interviews with multiple current and former employees, as well as three previously unreported lawsuits,' the article reported that 'Aflac has exploited workers, manipulated its accounting, and deceived shareholders and customers.' Among other issues, the article described 'employees under pressure to meet sales goals selling policies without customer authorization or consent, illegally 'bundling' policies, and issuing others to ineligible customers'; the Company's '[m]assaging of key operational metrics to prove company growth to investors'; '[e]arnings statement manipulation, by moving sales earned in certain weeks into different quarters to hit numbers'; and '[r]etaliation against whistleblowers'.

Shares of AFLAC Incorporated (NYSE:AFL) declined on January 12, 2018 to as low as $83.70 per share. On January 12, 2018, AFLAC Incorporated issued a statement regarding the allegations and said they contain false allegations made by a very small group of independent contractors and that AFLAC Incorporated intends to aggressively fight these allegations beginning with filing for their dismissal.