SelectQuote, Inc. Class Action: Know Your Rights and Options
Understanding the Recent Class Action for SelectQuote, Inc. Investors
Investors of SelectQuote, Inc. are facing a significant development as a class action lawsuit has been announced. This suit is geared towards investors who purchased securities during the specified Class Period and are encouraged to take action promptly.
Details of the Class Action
The Portnoy Law Firm is actively advising investors that acquired SelectQuote shares. This case targets those who bought stocks between September 9, 2020, and May 1, 2025, during which a series of troubling allegations have surfaced.
Key Allegations Against SelectQuote
On May 1, 2025, deep concerns arose when the U.S. Department of Justice filed a False Claims Act complaint against SelectQuote. The DOJ alleged that the company engaged in questionable practices, involving illegal kickbacks from health insurance firms, in exchange for funneling Medicare beneficiaries towards specific insurers. This abusive relationship reportedly discriminated against less profitable beneficiaries, including individuals with disabilities.
The Impact on Shareholders
The repercussions of these allegations were immediate. On the same day as the announcement, SelectQuote’s stock price plummeted by $0.61, representing a staggering drop of 19.24%. This decline has left many investors reevaluating their positions and looking for potential recourse.
How Investors Can Act
Investors potentially impacted by these allegations have until October 10, 2025, to file a lead plaintiff motion. Take action by contacting the Portnoy Law Firm for guidance. They are ready to assist in evaluating the case and discussing options to recover lost investments.
Choosing the Right Legal Representation
With over $5.5 billion recovered for investors, The Portnoy Law Firm’s experienced team stands ready to help those affected. Their commitment to pursuing claims for corporate wrongdoing reinforces their reputation in investor advocacy.
Get in Touch for a Consultation
Lesley F. Portnoy can be reached at 844-767-8529. Additionally, interested parties can contact the firm via email to discuss how to join the case and understand their legal rights. This is a crucial step for anyone looking to take action.
What Investors Should Remember
Investing always carries risk, and staying informed is vital. The ongoing legal challenges faced by SelectQuote highlight the importance of vigilance in financial investments. Always consult with legal experts when navigating such critical situations.
Frequently Asked Questions
What is the Class Period for SelectQuote investors?
The Class Period for SelectQuote investors is from September 9, 2020, to May 1, 2025.
Who can file a lead plaintiff motion?
Any investor who purchased SelectQuote shares during the Class Period can file a lead plaintiff motion.
What are the allegations against SelectQuote?
The DOJ alleges that SelectQuote received illegal kickbacks from insurers and discriminated against vulnerable beneficiaries.
How does this affect SelectQuote's stock price?
Following the allegations, SelectQuote’s stock price fell by 19.24%, reflecting investor concerns.
How can investors seek legal help?
Investors can contact the Portnoy Law Firm to discuss their case and explore options for recovering their losses.
About The Author
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