#United States #Class Action #Los Angeles #Securities Fraud #SelectQuote

SelectQuote, Inc. Faces Securities Fraud Allegations

Investors have been given a chance to step forward in leading a significant securities fraud class action lawsuit against SelectQuote, Inc. (NYSE: SLQT), as formally announced by Glancy Prongay & Murray LLP. Those who have experienced financial losses from their investments in SelectQuote between September 9, 2020, and May 1, 2025 are especially encouraged to participate. This could be a pivotal moment for many investors affected by the alleged malpractice.

Background of the Lawsuit

The basis of the lawsuit is serious claims that SelectQuote engaged in misleading practices that ultimately defrauded its investors. The allegations argue that the company failed to disclose critical information that placed their investments at risk. Some of the allegations outlined include:

1. Misleading Direction of Medicare Beneficiaries: SelectQuote is accused of directing Medicare beneficiaries to insurers that offered compensation beneficial to SelectQuote, rather than providing unbiased advice based on the quality or suitability of those plans.

2. Lack of Unbiased Services: The lawsuit alleges that SelectQuote did not offer unbiased comparisons for Medicare Advantage insurance plans, misleading clients in their choices.

3. Illegal Kickbacks: It is claimed that SelectQuote was involved in receiving illegal kickbacks, which influenced their decision-making when directing Medicare beneficiaries, thus limiting options available to consumers.

4. Regulatory Compliance Issues: The company reportedly did not comply with necessary laws, regulations, and contracts, increasing their vulnerability to legal issues.

5. Material Misleading Statements: From this, it follows that defendants made materially misleading statements about the company’s business and future prospects, which lacked a solid foundation.

Importance of Participation

For investors who may have suffered losses, this lawsuit provides an opportunity not only to seek justice but also to potentially recover their investments. Interested parties have until October 10, 2025, to come forward and become lead plaintiffs or simply to participate in the class action. This could empower them to hold SelectQuote accountable for the alleged deceptive actions uncovered in the complaint.

How to Get Involved

Individuals who wish to learn more or who qualify to participate in this lawsuit should reach out to the law firm facilitating this initiative. For inquiries, investors can contact:

Charles Linehan, Esq.
Glancy Prongay & Murray LLP
1925 Century Park East, Suite 2100
Los Angeles, California 90067
Email: [email protected]
Phone: 310-201-9150 (Toll-Free: 888-773-9224)

Investors can also visit the law firm’s website for further updates and relevant information regarding the ongoing legal procedures.

Conclusion

The fate of this class action lawsuit could hinge on the collective action of shareholders who have been affected. As the case against SelectQuote unfolds, it will be crucial for those impacted to rally together for a united stance against practices deemed fraudulent. With the deadline for action approaching, now is the time for investors to assess their position and consider their options in this pivotal moment.