Lawsuit filed for Investors in shares of SelectQuote, Inc. (NYSE: SLQT) over alleged securities laws violations

An investor, who purchased shares of SelectQuote, Inc. (NYSE: SLQT), filed a lawsuit over alleged violations of Federal Securities Laws by SelectQuote, Inc. in connection with certain allegedly false and misleading statements.

Investors who purchased shares of SelectQuote, Inc. (NYSE: SLQT) have certain options and for certain investors are short and strict deadlines running. Deadline: October 10, 2025. NYSE: SLQT investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Overland Park, KS based SelectQuote, Inc. operates a technology-enabled, direct-to-consumer distribution and engagement platform that sells insurance policies and healthcare services in the United States. SelectQuote, Inc. (NYSE: SLQT) reported that its Total Revenue rose from over $1.32 billion for the 12 months period that ended on June 30, 2024, to over $1.52 billion for the 12 months period that ended on June 30, 2025, and that its Net Loss of $34.12 million turned into a Net Income of $47.58 million over those respective time periods.

On May 1, 2025, the U.S. Department of Justice ("DOJ") filed a False Claims Act complaint against SelectQuote, Inc., alleging, "[f]rom 2016 through at least 2021" SelectQuote received "tens of millions of dollars" in "illegal kickbacks" from health insurance companies in exchange for steering Medicare beneficiaries to enroll in the insurers' plans. Further, SelectQuote, in exchange for kickbacks, engaged in a conspiracy with major insurers to illegally discriminate against beneficiaries deemed to be less profitable, including those with disabilities. The DOJ concluded that SelectQuote, Inc. made materially false claims by stating it offers "unbiased coverage comparisons" when in fact it "repeatedly directed Medicare beneficiaries to the plans offered by insurers that paid them the most money, regardless of the quality or suitability of the insurers' plans."

Shares of SelectQuote, Inc. (NYSE: SLQT) declined from $33.00 per share on April 13, 2021, to as low as $1.62 per share on May 01, 2025.

The plaintiff claims that between September 9, 2020 and May 1, 2025, the Defendants made false and/or misleading statements and/or failed to disclose that the Company was directing Medicare beneficiaries to the plans offered by insurers that best compensated SelectQuote, regardless of the quality or suitability of the insurers' plans, that SelectQuote did not provide unbiased comparison shopping for Medicare Advantage insurance plans, that SelectQuote received illegal kickbacks to steer Medicare beneficiaries to certain insurers and limit enrollment in competitors' plans, that as a result, SelectQuote had not complied with applicable laws, regulations, and contractual provisions, and that SelectQuote was vulnerable to regulatory and legal sanctions as a result of its conduct, including claims that it had violated the False Claims Act.

Those who purchased shares of SelectQuote, Inc. (NYSE: SLQT) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.