What is the story about?
What's Happening?
Bronstein, Gewirtz & Grossman LLC has announced a class action lawsuit opportunity for investors of SelectQuote, Inc. who have experienced substantial losses. The lawsuit aims to recover damages for alleged violations of federal securities laws by SelectQuote. The complaint alleges that during the class period from September 9, 2020, to May 1, 2025, SelectQuote made materially false and misleading statements and failed to disclose adverse facts about its business operations. Key allegations include directing Medicare beneficiaries to plans that best compensated SelectQuote, receiving illegal kickbacks, and failing to comply with applicable laws and regulations. These actions have led to a significant drop in SelectQuote's stock price, which fell by 19.2% on May 1, 2025.
Why It's Important?
The lawsuit highlights significant concerns about the ethical and legal practices within SelectQuote, particularly regarding Medicare Advantage insurance plans. If proven, these allegations could have broader implications for the insurance industry, potentially leading to increased scrutiny and regulatory changes. Investors who suffered losses may have the opportunity to recover damages, impacting their financial standing. The case also underscores the importance of transparency and compliance in corporate operations, which can affect investor trust and market stability.
What's Next?
Investors have until October 10, 2025, to request the court to appoint them as lead plaintiffs in the class action lawsuit. Bronstein, Gewirtz & Grossman LLC is representing investors on a contingency fee basis, meaning they will only be reimbursed for expenses and fees if successful. The firm encourages affected investors to review the complaint and consider joining the lawsuit to potentially recover losses.
AI Generated Content
Do you find this article useful?
