SHAREHOLDER ALERT: SFMS Announces Filing of Securities Class Action Lawsuit Against Health Insurance Innovations, Inc.
NEW YORK, Sept. 14, 2017 (GLOBE NEWSWIRE) -- Shepherd, Finkelman, Miller & Shah, LLP (“SFMS”) announces that a class action lawsuit has been filed in the United States District Court for the Eastern District of New York (Civil Action No. 17-05316) against Health Insurance Innovations, Inc. (“Health Insurance Innovations” or the “Company”)(Nasdaq:HIIQ) and certain of its officers and directors. The case seeks remedies under the Securities Exchange Act of 1934 and is brought on behalf of a class consisting of all persons or entities that acquired Health Insurance Innovations securities between August 2, 2017 and September 11, 2017, inclusive (the “Class Period”). If you would like to discuss this action or have any questions regarding this notice or your rights, please contact either Bruce Parke (bparke@sfmslaw.com) or Jonathan Dilger (jdilger@sfmslaw.com); (866) 540-5505.
The Complaint alleges that, throughout the Class Period, Health Insurance Innovations made false and/or misleading statements and/or failed to disclose that: (1) the Company’s application for a third-party insurance administrator’s license with the Florida Office of Insurance Regulation was rejected due, in part, to material errors and omissions; (2) the foregoing denial of the Company’s application could lead to its loss of additional licenses in the other states where it conducts business; and (3) as a result, the Company’s public statements were materially false and misleading at all relevant times.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN AN ATTORNEY. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS TIME. If you purchased or otherwise acquired Health Insurance Innovations securities during the Class Period, we encourage you to contact us with any questions prior to the November 10, 2017 lead plaintiff motion deadline.
SFMS is recognized as an accomplished firm in the areas of securities, corporate governance, antitrust and employee benefits litigation with offices in California, Connecticut, Florida, New Jersey, New York and Pennsylvania, as well as affiliate offices in London, England, and Milan, Italy. SFMS has recovered hundreds of millions of dollars on behalf of investors. For more information, please visit us at http://www.sfmslaw.com.
Contacts:
Bruce Parke
Jonathan Dilger
Shepherd Finkelman Miller & Shah, LLP
Telephone: (866) 540-5505
Email: bparke@sfmslaw.com
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