BENSALEM, Pa.–(BUSINESS WIRE)–Law Offices of Howard G. Smith reminds investors of the upcoming October 10, 2025 deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased SelectQuote, Inc. (“SelectQuote” or the “Company”) (NYSE: SLQT) securities between September 9, 2020 and May 1, 2025, inclusive (the “Class Period”).
IF YOU ARE AN INVESTOR WHO SUFFERED A LOSS IN SELECTQUOTE, INC. (SLQT), CONTACT THE LAW OFFICES OF HOWARD G. SMITH TO PARTICIPATE IN THE ONGOING SECURITIES FRAUD LAWSUIT.
Contact the Law Offices of Howard G. Smith to discuss your legal rights by email at [email protected], by telephone at (215) 638-4847 or visit our website at www.howardsmithlaw.com.
What Happened?
On May 1, 2025, the U.S. Department of Justice (“DOJ”) filed a False Claims Act complaint against SelectQuote, alleging, “[f]rom 2016 through at least 2021” SelectQuote received “tens of millions of dollars” in “illegal kickbacks” from health insurance companies in exchange for steering Medicare beneficiaries to enroll in the insurers’ plans. Further, SelectQuote, in exchange for kickbacks, engaged in a conspiracy with major insurers to illegally discriminate against beneficiaries deemed to be less profitable, including those with disabilities. The DOJ concluded that SelectQuote made materially false claims by stating it offers “unbiased coverage comparisons” when in fact it “repeatedly directed Medicare beneficiaries to the plans offered by insurers that paid them the most money, regardless of the quality or suitability of the insurers’ plans.”
On this news, SelectQuote’s stock price fell $0.61, or 19.2%, to close at $2.56 per share on May 1, 2025, on unusually heavy trading volume.
What Is The Lawsuit About?
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the Company was directing Medicare beneficiaries to the plans offered by insurers that best compensated SelectQuote, regardless of the quality or suitability of the insurers’ plans; (2) that SelectQuote did not provided unbiased comparison shopping for Medicare Advantage insurance plans; (3) that SelectQuote received illegal kickbacks to steer Medicare beneficiaries to certain insurers and limit enrollment in competitors’ plans; (4) that as a result, SelectQuote had not complied with applicable laws, regulations, and contractual provisions; (5) that SelectQuote was vulnerable to regulatory and legal sanctions as a result of its conduct, including claims that it had violated the False Claims Act; and (6) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you purchased or otherwise acquired SelectQuote securities during the Class Period, you may move the Court no later than October 10, 2025 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements.
Contact Us To Participate or Learn More:
If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:
Law Offices of Howard G. Smith,
3070 Bristol Pike, Suite 112,
Bensalem, Pennsylvania 19020,
Telephone: (215) 638-4847
Email: [email protected]
Visit our website at: www.howardsmithlaw.com.
To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
[email protected]
www.howardsmithlaw.com
