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United States District Court Dismisses Derivative Lawsuit Filed Against Aflac

Insurance company Aflac Inc. (AFL) late Tuesday announced that the derivative suit filed against the company late last year by three current or former independent agents has been dismissed in its entirety. The suit had no merit.

The company said it has been open and transparent from day one, even posting the reports from the independent Special Litigation Committee or SLC on the company's website for the purpose of full disclosure.

The judge determined that the SLC was indeed independent and that it conducted a thorough, reasonable and good faith investigation with the assistance of non-conflicted, independent counsel.

Audrey Boone Tillman, general counsel Aflac, said, "Justice has been served as this case is now dismissed."

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