MediaAlpha, Inc. INVESTIGATION: Kirby McInerney LLP Announces Investigation Into Potential Securities Fraud on behalf of Investors (MAX)

Core Viewpoint - Kirby McInerney LLP is investigating potential claims against MediaAlpha, Inc. for possible violations of federal securities laws and unlawful business practices [1] Group 1: Allegations and Investigations - On June 24, 2024, Wolfpack Research published a report alleging that MediaAlpha was involved in consumer fraud, claiming that up to 78% of its health insurance lead-buying partners were engaged in scams or violating telemarketing laws [3] - Following the report, MediaAlpha's share price fell by approximately 6.85%, from $15.34 to $14.29 per share [3] - On November 4, 2024, the Federal Trade Commission (FTC) indicated it was prepared to file a complaint against MediaAlpha for misleading advertising and false affiliations with government entities, leading to a share price drop of about 27.73%, from $16.08 to $11.62 [4] Group 2: Settlement and Financial Impact - On August 6, 2025, MediaAlpha announced a settlement with the FTC for $45 million, related to claims that it misled consumers while collecting personal information for health insurance quotes [5] - The FTC's complaint highlighted that MediaAlpha sold approximately 119 million leads about consumers in 2024, indicating a significant volume of consumer data transactions [5]