A lawsuit was filed on behalf of investors in Health Insurance Innovations, Inc. (NASDAQ: HIIQ) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 03/04/2019 -- An investor, who purchased shares of Health Insurance Innovations, Inc. (NASDAQ: HIIQ), filed a lawsuit over alleged violations of Federal Securities Laws by Health Insurance Innovations, Inc in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Health Insurance Innovations, Inc. (NASDAQ: HIIQ) have certain options and for certain investors are short and strict deadlines running. Deadline: April 22, 2019. NASDAQ: HIIQ investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
Tampa, FL based Health Insurance Innovations, Inc. operates as a cloud-based technology platform and distributor of individual and family health insurance plans, and supplemental products in the United States. On November 27, 2018, a report was published stating, among other things, that "[p]reviously sealed documents gathered by the FTC directly undermine management's claims and prove that a large boiler room operation recently shuttered by the government for a massive alleged fraud was responsible for roughly half of HIIQ's sales. Evidence also suggests that HIIQ policies have been contaminated by insurance fraud and reveal that other HIIQ brokers prey on consumers with falsehoods."
The plaintiff claims that between February 28, 2018 and November 27, 2018, the Defendants failed to disclose to investors that a substantial portion of the Company's revenues were derived from third parties, that these third parties used deceptive tactics to sell the Company's policies, including overstating the policy's coverage and/or selling under the licenses of employees who had no involvement in the underlying sales, that regulatory scrutiny of these third parties would materially impact the Company's operations, and 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.
Those who purchased shares of Health Insurance Innovations, Inc. (NASDAQ: HIIQ) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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