Glancy Prongay & Murray Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Health Insurance Innovations, Inc. (HIIQ)

Business Wire

LOS ANGELES--(BUSINESS WIRE)-- Glancy Prongay & Murray LLP (“GPM”) reminds investors of the November 13, 2017 deadline to file a lead plaintiff motion in the class action filed on behalf of investors that 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.

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 shareholders@glancylaw.com.

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 uncovered 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.

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. 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 shareholders@glancylaw.com, 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.

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