NEW YORK, Nov. 28, 2018 /PRNewswire/ -- Bernstein
Liebhard LLP, a nationally acclaimed investor rights law firm, is
investigating potential securities fraud claims on behalf of
shareholders of Health Insurance Innovations, Inc. ("HIIQ" or
the "Company") (NASDAQ: HIIQ) resulting from allegations that HIIQ
and/or its executives may have issued materially misleading
business information to the investing public.
If you purchased HIIQ securities, and/or would like to discuss
your legal rights and options, please visit HIIQ Shareholder
Investigation or contact Daniel
Sadeh toll free at (877) 779-1414 or
dsadeh@bernlieb.com.
On November 27, 2018, Aurelius
Value published a report stating, among other things, that
"[p]reviously sealed documents gathered by the FTC directly
undermine management's claims and prove that a large boiler room
operation recently shuttered by the government for a massive
alleged fraud was responsible for roughly half of HIIQ's
sales. Evidence also suggests that HIIQ policies have been
contaminated by insurance fraud and reveal that other HIIQ brokers
prey on consumers with falsehoods." The report further stated that,
despite HIIQ's claim "that [Steve]
Dorfman was responsible for less than 10% of HIIQ's
business[,]"…previously unpublished bank records reveal that HIIQ
has paid at least $145
million in cash to Dorfman's companies,
representing about half of the third party commissions paid out by
HIIQ over this approximate period. We therefore conclude
that Dorfman's alleged fraud has been responsible
for as much as half of HIIQ's revenues."
On this news, HIIQ stock fell $1.93 per share, or over 5.8%, from its previous
closing price to close at $31.20 per
share on November 27, 2018, damaging
investors.
If you purchased HIIQ securities, and/or would like to discuss
your legal rights and options, please visit
https://www.bernlieb.com/cases/health-insurance-innovations-inc-hiiq-lawsuit-class-action-fraud-stock-96/
or contact Daniel Sadeh toll free at
(877) 779-1414 or dsadeh@bernlieb.com.
Since 1993, Bernstein Liebhard LLP has recovered over
$3.5 billion for its clients. In
addition to representing individual investors, the Firm has been
retained by some of the largest public and private pension funds in
the country to monitor their assets and pursue litigation on their
behalf. As a result of its success litigating hundreds of lawsuits
and class actions, the Firm has been named to The National Law
Journal's "Plaintiffs' Hot List" thirteen times and listed in
The Legal 500 for ten consecutive years.
ATTORNEY ADVERTISING. © 2018 Bernstein Liebhard LLP. The law
firm responsible for this advertisement is Bernstein Liebhard LLP,
10 East 40th Street, New York, New
York 10016, (212) 779-1414. The lawyer responsible for this
advertisement in the State of
Connecticut is Michael S. Bigin. Prior results do not
guarantee or predict a similar outcome with respect to any future
matter.
Contact Information
Daniel Sadeh
Bernstein Liebhard LLP
http://www.bernlieb.com
(877) 779-1414
dsadeh@bernlieb.com
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SOURCE Bernstein Liebhard LLP