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Faruqi & Faruqi Investigates SelectQuote Securities Class Action
ByAinvest
Saturday, Aug 16, 2025 9:11 am ET1min read
Faruqi & Faruqi, a national securities law firm, is investigating potential claims against SelectQuote, Inc. (NYSE:SLQT) for federal securities class action violations. Investors who suffered losses exceeding $75,000 between September 9, 2020 and May 1, 2025 are encouraged to contact Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310) to discuss their legal options. The deadline to seek lead plaintiff status is October 10, 2025.
Faruqi & Faruqi, a leading national securities law firm, has announced that it is investigating potential claims against SelectQuote, Inc. (NYSE: SLQT) for federal securities class action violations. The firm is urging investors who suffered losses exceeding $75,000 between September 9, 2020 and May 1, 2025 to contact Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310) to discuss their legal options.The investigation centers around allegations that SelectQuote violated federal securities laws by making false and/or misleading statements and/or failing to disclose material adverse facts. Specifically, the firm alleges that SelectQuote directed Medicare beneficiaries to plans offered by insurers that best compensated the company, regardless of the quality or suitability of the plans. The firm also alleges that SelectQuote did not provide unbiased comparison shopping for Medicare Advantage insurance plans and received illegal kickbacks to steer beneficiaries to certain insurers and limit enrollment in competitors' plans.
On May 1, 2025, the U.S. Department of Justice filed a False Claims Act complaint against SelectQuote, alleging that the company received tens of millions of dollars in illegal kickbacks from health insurance companies between 2016 and 2021 in exchange for directing beneficiaries to enroll in their plans. The DOJ concluded that SelectQuote made materially false claims by stating it offers unbiased coverage comparisons when, in fact, it repeatedly directed beneficiaries to the plans offered by insurers that paid the company the most money, regardless of the quality or suitability of the plans.
The stock price of SelectQuote fell $0.61, or 19.2%, to close at $2.56 per share on May 1, 2025, following the DOJ's announcement. The firm has set an October 10, 2025 deadline for investors to seek lead plaintiff status in the potential class action lawsuit.
Investors are encouraged to contact Faruqi & Faruqi to discuss their legal options. The firm has a proven track record of recovering hundreds of millions of dollars for investors since its founding in 1995. For more information, visit www.faruqilaw.com or contact Josh Wilson directly at the provided numbers.
References:
[1] https://www.faruqilaw.com/investigation/2340/selectquote-inc
[2] https://www.prnewswire.com/news-releases/shareholder-notice-faruqi--faruqi-llp-investigates-claims-on-behalf-of-investors-of-selectquote-302529272.html
[3] https://www.prnewswire.com/news-releases/slqt-investor-alert-bronstein-gewirtz--grossman-llc-announces-that-selectquote-inc-investors-with-substantial-losses-have-opportunity-to-lead-class-action-lawsuit-302529531.html
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