#Securities Law #Faruqi & Faruqi #SelectQuote

Faruqi & Faruqi Investigates Claims on Behalf of Investors of SelectQuote

Faruqi & Faruqi, LLP, one of the preeminent law firms specializing in securities litigation in the United States, is currently investigating potential claims against SelectQuote, Inc., a company widely recognized in the insurance sector. This investigation arises from allegations indicating that SelectQuote has not been transparent in their dealings with Medicare beneficiaries, leading to significant potential losses for investors.

The firm has specifically urged investors who have incurred losses exceeding $75,000 in SelectQuote between September 9, 2020, and May 1, 2025, to reach out for more information about their legal rights. Faruqi & Faruqi's Senior Partner, James (Josh) Wilson, is personally available to discuss these issues and guide individuals through their options.

Overview of Allegations Against SelectQuote

According to the information provided, SelectQuote has been accused of violating several federal securities laws. The allegations suggest that the company made a series of misleading statements while failing to disclose crucial information about its operations. Here are some of the primary issues outlined in the complaints:

1. Misleading Claims to Medicare Beneficiaries: The company is purported to have been steering Medicare beneficiaries towards insurance plans offered by companies that provided SelectQuote with higher compensation, rather than evaluating the quality or suitability of these plans.

2. Lack of Unbiased Comparison Shopping: SelectQuote is claimed not to offer impartial comparisons of Medicare Advantage insurance plans, contrary to its marketing statements.

3. Illegal Kickbacks: Allegations have surfaced that SelectQuote received illicit kickbacks from certain insurers, incentivizing them to limit enrollment into competing plans, which may violate multiple regulations and laws.

4. Regulatory Vulnerabilities: Due to these activities, SelectQuote is reportedly at risk of facing severe regulatory and legal challenges, including investigations under the False Claims Act, which could significantly impact the company's financial standing and reputation.

These claims were further substantiated when, on May 1, 2025, the U.S. Department of Justice filed a complaint against SelectQuote. The DOJ alleged that, from 2016 through at least 2021, SelectQuote benefited financially from