Health Insurance Innovations (NASDAQ: HIIQ) Securities Lawsuit Investigation
Our securities fraud attorneys are investigating potential claims on behalf of investors of Health Insurance Innovations (NASDAQ: HIIQ) involving possible securities law violations. A class action lawsuit was filed on September 11, 2017 on behalf of investors who purchased shares of HIIQ between August 2, 2017 and September 11, 2017.
Health Insurance Innovations (HIIQ) Stock Losses?
If you acquired shares in Health Insurance Innovations and would like to speak privately with a securities attorney about your legal rights in the lawsuit, fill out the form or call the securities team directly at (800) 254-9493.
Share Price Falls 21.9%
On September 11, 2017, Seeking Alpha published an article charging that Health Insurance Innovations was rejected for a key insurance license in Florida because a regulator uncovered undisclosed legal actions against HIIQ insiders. The article also alleged that HIIQ privately warned the Florida regulator of a potentially disastrous “domino effect” spreading to other states, which could cause additional licensure losses. Following this news, shares of HIIQ fell $6.55 per share, or 21.9%, to close at $23.35 per share, causing significant harm to HIIQ investors.
The complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that:
- the Company’s application for a third-party insurance administrator’s license with the Florida Office of Insurance Regulation was denied due in part to material errors and omissions
- the Florida Office of Insurance Regulation’s rejection of the Company’s application for a third-party insurance administrator’s license could result in its losing licenses in the other states
- as a result, the Company’s public statements were materially false and misleading at all relevant times
Girard Gibbs' Financial Fraud Experience
Girard Gibbs’ financial fraud and securities lawyers have more than two decades of experience prosecuting fraud. Our attorneys have successfully litigated against some of the largest companies in the United States, and we have recovered more than a billion dollars on our clients’ behalf.
We have fought some of the most complex cases brought under federal and state laws nationwide, and our attorneys have been recognized with numerous awards and honors for their accomplishments, including Top 100 Super Lawyers in Northern California, Top Plaintiff Lawyers in California, The Best Lawyers in America, and rated AV Preeminent (among the highest class of attorneys for professional ethics and legal skills).
Our Team
Eric Gibbs
Eric has served in leadership positions in a number of high profile, complex financial lawsuits. He’s been named a Law360 Consumer Protection MVP, to Daily Journal’s “Top Plaintiff Lawyers in California”, and to the Top 100 Super Lawyers in Northern California.
View full profileDave Stein
David’s advocacy has generated major recoveries for consumers impacted by financial fraud. He was named to the Top 40 Under 40 by Daily Journal and a “Rising Star in Class Actions” by Law360.
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