INVESTIGATION ALERT: Berger Montague PC Probes Aflac, Inc.'s Board for Breach of Fiduciary Duties Following Cybersecurity Breach (NYSE: AFL)

PHILADELPHIA, July 8, 2025 – Berger Montague PC, a nationally recognized law firm, has announced a comprehensive investigation into potential breaches of fiduciary duty and corporate governance failures by the Board of Directors of Aflac Inc. ("Aflac" or the "Company") (NYSE: AFL). This investigation stems directly from a recent significant cybersecurity breach that has impacted the insurance giant.

The firm's inquiry focuses on whether Aflac's Board adequately fulfilled its oversight responsibilities in protecting the Company's digital infrastructure and sensitive customer data. Cybersecurity incidents can lead to substantial financial repercussions, including regulatory fines, litigation costs, reputational damage, and a loss of customer trust. For a publicly traded company like Aflac, such events can also trigger a decline in stock value, directly harming shareholders.

The Core of the Investigation

Berger Montague's investigation will scrutinize several key areas:

• Adequacy of Cybersecurity Measures: Did Aflac's Board ensure the implementation of robust and up-to-date cybersecurity protocols commensurate with the risks faced by a large financial services company handling vast amounts of personal data?
• Oversight and Risk Management: Were there sufficient internal controls and risk management frameworks in place to identify, assess, and mitigate cybersecurity threats effectively? Did the Board receive timely and accurate information regarding the Company's cybersecurity posture?
• Response to the Breach: How did the Board oversee the Company's response to the breach, including incident containment, data recovery, notification procedures, and communication with affected parties and regulators?
• Compliance with Regulations: Was the Company in compliance with relevant data privacy and security regulations, such as HIPAA, CCPA, or other state and federal laws, which could expose it to legal liabilities?

Shareholders of Aflac Inc. who wish to learn more about this investigation or discuss their potential rights are encouraged to contact Berger Montague. The firm's legal team is available to provide confidential consultations. Interested parties can reach Radha Raghavan at rraghavan@bm.net or (332) 271-8908, or Andrew Abramowitz at aabramowitz@bm.net or (215) 875-3015. Further information is also available by visiting the firm's dedicated investigation page.

Market Context and Implications for Aflac (NYSE: AFL)

The financial services and insurance sectors are prime targets for cyberattacks due to the sensitive nature of the data they hold. A cybersecurity breach of this magnitude can have a multifaceted impact on Aflac. Beyond the immediate costs of remediation and potential legal settlements, the long-term effects could include increased scrutiny from regulators, higher insurance premiums for cyber liability, and a potential erosion of brand loyalty. Investors often react negatively to such news, as it introduces uncertainty regarding future earnings and operational stability.

For Aflac, a company known for its supplemental insurance products, maintaining customer trust is paramount. Any perceived failure in safeguarding customer information could directly affect its ability to attract and retain policyholders, thereby impacting its core business operations and financial performance.

Investment Insights for Shareholders

For current Aflac shareholders, this investigation introduces a new layer of risk. While the full extent of the breach and its financial implications are yet to be determined, investors should consider the following:

• Monitor Developments: Closely follow news related to the investigation, any regulatory actions, and updates from Aflac regarding the breach's impact.
• Assess Risk Exposure: Evaluate your personal investment exposure to Aflac and consider whether the potential legal and reputational risks align with your risk tolerance.
• Diversification: Ensure your portfolio is adequately diversified to mitigate the impact of adverse events affecting a single holding.
• Long-Term Outlook: Consider how a prolonged legal battle or significant reputational damage could affect Aflac's long-term growth prospects and competitive position.

This investigation serves as a critical reminder for all public companies of the increasing importance of robust cybersecurity governance and the potential legal ramifications for boards that fail to adequately protect corporate assets and stakeholder interests.