Key Event 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. 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 acqui ...

Core Viewpoint - A securities class action lawsuit has been filed against SelectQuote, Inc. for allegedly misleading investors regarding its business practices and compliance with regulations [1][2]. Allegations - SelectQuote allegedly steered Medicare beneficiaries to insurance plans that provided the highest commissions rather than those best suited for customers [7]. - The company is accused of failing to provide unbiased Medicare Advantage comparisons as claimed [7]. - SelectQuote reportedly accepted illegal kickbacks to favor certain insurers, limiting competition [7]. - The company is alleged to have been non-compliant with laws, regulations, and contracts, exposing it to regulatory and legal risks, including under the False Claims Act [7]. - Positive statements made by SelectQuote about its business and prospects were misleading and lacked a reasonable basis [7]. Impact on Investors - Following the announcement by the U.S. Department of Justice on May 1, 2025, SelectQuote's stock price fell by 19.2%, decreasing by $0.61 to close at $2.56 per share [3]. Legal Context - Investors have until October 10, 2025, to seek appointment as lead plaintiff in the case [4]. - The law firm representing the investors, Wolf Haldenstein Adler Freeman & Herz LLP, has over 125 years of experience in securities litigation [4]. Key Events - The U.S. Department of Justice filed a False Claims Act complaint against SelectQuote, alleging that from 2016 to 2021, the company received tens of millions of dollars in illegal kickbacks from insurers [7]. - The DOJ also alleged that SelectQuote conspired with major insurers to discriminate against less profitable beneficiaries, including those with disabilities [7]. - The DOJ concluded that SelectQuote falsely claimed to provide "unbiased coverage comparisons" while steering customers toward higher-paying plans [7].