Investor Alert: Kaplan Fox Announces Investigation Of Health Insurance Innovations

PR Newswire

NEW YORK, Feb. 21, 2019 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Health Insurance Innovations, Inc. ("Health Insurance Innovations", "HIIQ" or the "Company") (NASDAQ: HIIQ), a company that purportedly distributes individual and family health insurance plans, including short-term medical insurance plans, and guaranteed-issue and underwritten health benefit insurance plans. Investors who purchased Health Insurance Innovations securities between February 28, 2018 and November 27, 2018, inclusive (the "Class Period"), may be affected. A complaint has been filed in the United States District Court for Middle District of Florida against the Company and certain executives (the "Action").

On November 2, 2018, after the market closed, the Company announced that it had immediately suspended its relationship with Health Benefits One, LLC ("Simple Health") after the Company became aware that the Federal Trade Commission ("FTC") had brought an action against Simple Health. Additionally, the Company stated that for 2018, Simple Health "was the agency of record for less than 10% of HIIQ's submitted policies." According to the Action, the FTC alleged that Simple Health had misleadingly sold Company policies, among others, as "comprehensive health insurance."

Following this news, the Company's share price fell $4.47 per share, 8.8%, to close at $46.27 per share on November 2, 2018, on heavy trading volume.

According to the Action, on November 27, 2018, Aurelius Value published a report entitled "HIIQ: Boiler Rooms, 'Worthless' Policies, and Defrauded Families," which alleged, among other things, that more than half of the Company's revenues were derived from boiler room operations that had recently been shut down by the FTC and that a "material portion" of the Company's policies were likely "contaminated by insurance fraud."

Following this news, the Company's share price fell $1.93 per share, nearly 6%, to close at $31.20 per share on November 27, 2018, on heavy trading volume.

If you are a member of the proposed Class, you may move the court no later than April 22, 2019 to serve as a lead plaintiff for the purported class. You need not seek to become a lead plaintiff in order to share in any possible recovery. If you would like to discuss the complaint or our investigation, please contact us by emailing pmayer@kaplanfox.com or by calling 800-290-1952.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. If you have any questions about this Notice, the action, your rights, or your interests, please contact:

Jeffrey P. CampisiKAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(800) 290-1952
(212) 687-1980
Fax: (212) 687-7714
E-mail: jcampisi@kaplanfox.com

Laurence D. KingKAPLAN FOX & KILSHEIMER LLP
350 Sansome Street, Suite 400
San Francisco, California 94104
(415) 772-4700
Fax: (415) 772-4707
E-mail: lking@kaplanfox.com

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