A class action lawsuit has been filed on behalf of investors against Health Insurance Innovations, Inc. (HIIQ), a distributor of health insurance plans. The lawsuit concerns potential violations of state and federal laws by the company and its officers.
If you are an investor and have suffered a loss with this company, you may be able to recover some of your losses.
Investors who purchased Health Insurance Innovations between February 28, 2018 and November 27, 2018 may be eligible to participate in the class action. The lawsuit’s complaint alleges that the company made false and misleading statements on several important matters, including that:
A significant amount of the company’s revenue came from third parties
The third parties allegedly used deceptive tactics to sell Health Insurance Innovations’ policies
Regulatory inspection of the third parties would materially impact the company’s operations
Health Insurance Innovations raised more than $65 million with its public offering, which used underwriters Citigroup Global Markets, Credit Suisse Securities USA, BofA Merrill Lynch, and Raymond James Financial.
If you were a Health Insurance Innovations shareholder and want to learn more about your legal rights, contact the Silver Law Group. If you purchased a Simple Health plan or other policy directly or indirectly from HIIQ and want to learn more about your legal rights, please contact us.
Silver Law Group represents the interests of investors who have been the victims of investment fraud. Our attorneys represent investors in class actions against issuers in state or federal court and investors in securities arbitration claims against Wall Street firms for stockbroker misconduct. Scott Silver is the chairman of the Securities and Financial Fraud Group of the American Association of Justice and represents investors nationwide in securities investment fraud cases. Please contact Scott Silver of the Silver Law Group for a free consultation at firstname.lastname@example.org or toll free at (800) 975-4345.