Shareholders who lost money in shares of SelectQuote, Inc. (NYSE: SLQT)Should Contact Wolf Haldenstein Immediately.
Lead Plaintiff Deadline is October 10, 2025
NEW YORK, Aug. 21, 2025 /PRNewswire/ -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been filed in the United States District Court for District Court for the Southern District of New York on behalf of all persons and entities who purchased or otherwise acquired of SelectQuote, Inc. (NYSE: SLQT) ("SelectQuote or the "Company") securities between September 9, 2020 and May 1, 2025, inclusive (the "Class Period").
PLEASE CLICK HERE TO JOIN THE CASE AND SUBMIT CONTACT INFORMATION
Allegations
The filed complaint alleges that SelectQuote and its executives misled investors by failing to disclose that:
- The company steered Medicare beneficiaries to insurance plans from providers that paid SelectQuote the highest commissions, not necessarily those best suited for customers.
- SelectQuote did not provide unbiased Medicare Advantage comparisons as claimed.
- The company accepted illegal kickbacks to favor certain insurers and limit competition.
- SelectQuote was therefore not in compliance with laws, regulations, and contracts.
- This exposed the company to regulatory and legal risk, including under the False Claims Act (FCA).
- Positive statements about the company's business and prospects were misleading and lacked a reasonable basis.
Key Event
- May 1, 2025:
- The U.S. Department of Justice (DOJ) filed a False Claims Act complaint, alleging that from 2016–2021, SelectQuote received tens of millions of dollars in illegal kickbacks from insurers.
- DOJ also alleged that SelectQuote conspired with major insurers to discriminate against less profitable beneficiaries, including those with disabilities.
- DOJ concluded SelectQuote falsely claimed to provide "unbiased coverage comparisons" while steering customers toward higher-paying plans.
Impact on Investors
- Following the DOJ announcement on May 1, 2025, SelectQuote's stock price fell 19.2%, dropping $0.61 to close at $2.56 per share.
Investors have until October 10, 2025 to seek appointment as lead plaintiff in the case.
This illustrious firm, founded in 1888, is steadfast in their pursuit of justice for investors who have suffered financial harm due to these misrepresented statements. The law firm brings to the fore over 125 years of legal expertise in securities litigation and has a proven track record of protecting the rights of investors.
We encourage all investors who have been affected or have information that will assist in our investigation, to contact Wolf Haldenstein Adler Freeman & Herz LLP.
Contact:
- Phone: (800) 575-0735 or (212) 545-4774
- Email: classmember@whafh.com
- Contact Person: Gregory Stone, Director of Case and Financial Analysis
Firm Website: Wolf Haldenstein Adler Freeman & Herz LLP
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
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SOURCE Wolf Haldenstein Adler Freeman & Herz LLP
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