Archived Investigations
SelectQuote, Inc. (NYSE: SLQT)
SelectQuote and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On May 1, 2025, the U.S. Department of Justice (“DOJ”) filed a False Claims Act complaint against the Company, alleging that, “[f]rom 2016 through at least 2021” it had received “tens of millions of dollars” in “illegal kickbacks” from health insurance companies in exchange for steering Medicare beneficiaries to enroll in the insurers’ plans, and that, in exchange for kickbacks, the Company engaged in a conspiracy with major insurers to illegally discriminate against beneficiaries deemed to be less profitable, including those with disabilities. The DOJ further alleged that the Company made materially false claims by stating it offers “unbiased coverage comparisons” when in fact it “repeatedly directed Medicare beneficiaries to the plans offered by insurers that paid them the most money, regardless of the quality or suitability of the insurers’ plans.”
On this news, the price of SelectQuote’s shares fell $0.61, or 19.2%, to close at $2.56 per share on May 1, 2025, on unusually heavy trading volume.
The case is Pahlkotter v. SelectQuote, Inc., et al., No. 1:25-cv-06620.