Glancy Prongay & Murray Announces the Filing of a Securities Class Action on Behalf of Health Insurance Innovations, Inc. Investors and…

Glancy Prongay & Murray Announces the Filing of a Securities Class Action on Behalf of Health Insurance Innovations, Inc. Investors and Encourages Investors to Contact the Firm HIIQ

By a News Reporter-Staff News Editor at Managed Care Weekly Digest -- Glancy Prongay & Murray LLP ("GPM") announces that a class action lawsuit has been filed on behalf of investors who purchased Health Insurance Innovations, Inc. ("Health Insurance Innovations" or the "Company") (NASDAQ: HIIQ) securities between March 4, 2016 and September 11, 2017, inclusive (the "Class Period"). Health Insurance Innovations investors have until November 13, 2017 to file a lead plaintiff motion. To obtain information or participate in the class action, please visit the Health Insurance Innovations page on our website at www.glancylaw.com/case/health-insurance-innovations-inc (see also Glancy Prongay & Murray LLP).

Investors suffering losses on their Health Insurance Innovations investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights in this class action at 310-201-9150 or by email to [email protected].

On September 11, 2017, an article was published on SeekingAlpha.com alleging, among other things, that: (1) in June 2017, one of the Company's key license applications was rejected after regulators uncovers undisclosed legal actions against Company insiders; and (2) the Company privately warned a Florida regulator that a rejection of its license application could create a "domino effect" whereby licensing denials would spread to the other states.

On this news, the Company's stock price fell $6.55 per share, or 21.9%, to close at $23.35 per share on September 11, 2017, thereby damaging investors.

The complaint filed in this class action alleges that throughout the Class Period, the Company issued materially false and misleading statements and/or failed to disclose that: (1) Health Insurance Innovations' application for a third-party insurance administrators license with the Florida Office of Insurance Regulation was denied due in part to material errors and omissions; (2) the Florida Office of Insurance Regulation's rejection of Health Insurance Innovations' application for a third-party insurance administrators license could result in its losing licenses in the other states; and (3) as a result, Health Insurance Innovations' public statements were materially false and misleading at all relevant times.

Follow us for updates on Twitter: twitter.com/GPM_LLP.

If you purchased shares of Health Insurance Innovations during the Class Period you may move the Court no later than November 13, 2017 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. View source version on businesswire.com: http://www.businesswire.com/news/home/20171003006277/en/

Keywords for this news article include: Legal Issues, Health Insurance, Glancy Prongay & Murray LLP.

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