BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Health Insurance Innovations, Inc. (the “Company”) (NASDAQ: HIIQ) investors concerning the Company and its officers’ possible violations of federal securities laws.
On November 2, 2018, the Company announced that it had immediately suspended its relationship with Health Benefits One LLC (“HBO”), an entity which the Federal Trade Commission (“FTC”) alleged had misleadingly sold HIIQ policies, among others, as “comprehensive health insurance.” And, 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." On this news, shares of HIIQ fell sharply in value thereby injuring investors.
If you purchased Health Insurance securities, have information or would like to learn more about these claims, or 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 firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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