Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Companies  >  All News

News : Companies

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors

SHAREHOLDER ALERT:  Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Health Insurance Innovations, Inc. of Class Action Lawsuit and Upcoming Deadline – HIIQ

share with twitter share with LinkedIn share with facebook
share via e-mail
0
09/30/2017 | 02:01pm CEST

NEW YORK, Sept. 30, 2017 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against Health Insurance Innovations, Inc. (“Health Insurance Innovations” or the “Company”) (NASDAQ:HIIQ) and certain of its officers.  The class action, filed in United States District Court, Southern District of New York, and docketed under 17-cv-06962, is on behalf of a class consisting of investors who purchased or otherwise acquired Health Insurance Innovations securities, seeking to recover compensable damages caused by defendants’ violations of the Securities Exchange Act of 1934.

If you are a shareholder who purchased Health Insurance Innovations securities between August 2, 2017, and September 11, 2017, both dates inclusive, you have until November 10, 2017, to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com.   To discuss this action, contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 9980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased. 

[Click here to join this class action]

Health Insurance Innovations operates as a developer, distributor, and administrator of cloud-based individual health and family insurance plans, and supplemental products in the United States. The Company offers, inter alia, short-term medical plans, hospital indemnity plans, and supplemental insurance products. It designs and structures individual health and family insurance plans, and supplemental products on behalf of insurance carriers and discount benefit providers and market them to individuals through a network of distributors.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that:  (i) Health Insurance Innovations’ application for a key insurance license in its home state of Florida was rejected due to the state’s Office of Insurance Regulation’s (“OIR”) discovery of undisclosed legal actions against Health Insurance Innovations insiders; (ii) Health Insurance Innovations warned the OIR of the anticipated “domino effect” that the rejection was likely to cause, by which the Company would subsequently lose licenses in additional states; and (iii) as a result of the foregoing, Health Insurance Innovations’ public statements were materially false and misleading at all relevant times. 

On September 11, 2017, the website SeekingAlpha.com published an article reporting on the OIR’s June 2017 rejection of Health Insurance Innovations’ application for a “key insurance license in [its] home state of Florida as [the OIR] uncovers undisclosed legal actions against HIIQ insiders” and that “HIIQ privately warns of disastrous “domino effect” spreading to other states, causing additional loss of licenses.  HIIQ makes no disclosure to investors.

On this news, Health Insurance Innovations’ share price fell $6.55, or 21.91%, to close at $23.35 on September 11, 2017. 

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com

CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com

 


© GlobeNewswire 2017
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Companies"
10:39pSUEZ : Crashing out of EU may hasten breakup of UK, ministers warn
AQ
10:30pWeaker exports weigh on Eurozone business output in September
AQ
10:21pComcast Beats Out Fox to Acquire Sky -- 6th Update
DJ
10:01pOPK LOSS NOTICE ALERT : Rosen Law Firm Files Securities Class Action Lawsuit Against OPKO Health, Inc.; Important Deadline - OPK
PR
10:01pMEDTRONIC : Presents IN.PACT Global Study Three-Year Data and Total IN.PACT(TM) Imaging and Propensity Analyses
AQ
10:01pSky Loss Is a Disappointment for Disney Ambitions
DJ
10:01pLarson Electronics LLC Releases LED Cab Light Upgrade Kit for Caterpillar D4E Bulldozers
GL
10:01pFORESTERS FINANCIAL : and KaBOOM! Celebrate Building 150 Playgrounds Together While Increasing Play Opportunities for Minneapolis Kids
BU
09:54pComcast Beats Out Fox to Acquire Sky -- 4th Update
DJ
09:53pSky's independent directors recommend Comcast offer
RE
Latest news "Companies"
Advertisement