HIIQ Reminder Deadline Alert: The Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Health Insurance Innovations, Inc.

Business Wire

BENSALEM, Pa.--(BUSINESS WIRE)-- Law Offices of Howard G. Smith 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.

Investors suffering losses on their Health Insurance Innovations investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 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 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 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at http://www.howardsmithlaw.com.