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SelectQuote faces lawsuit for allegedly steering Medicare patients to higher-commission plans using fake unbiased comparisons, violating federal law.
SelectQuote Inc. (SLQT) faces a securities class-action lawsuit alleging it misled investors and violated federal law by receiving illegal kickbacks from insurers between 2016 and 2021 for steering Medicare beneficiaries toward higher-commission plans.
The U.S. Department of Justice’s May 1, 2025, intervention in a whistleblower case revealed the company falsely claimed to offer unbiased plan comparisons while prioritizing financial incentives.
The allegations, tied to violations of the False Claims Act, triggered a 19% stock drop on May 1 and a 40% decline over six months.
Investors who bought stock between September 9, 2020, and May 1, 2025, may qualify to join the lawsuit, with a lead plaintiff deadline of October 10, 2025.
SelectQuote enfrenta una demanda por presuntamente dirigir a los pacientes de Medicare a planes de comisiones más altas usando comparaciones imparciales falsas, violando la ley federal.