Health Insurance Innovations : Scott+Scott Attorneys at Law LLP is Investigating Derivative Claims on Behalf of Shareholders of Health Insurance Innovations, Inc. (HIIQ)
NEW YORK, March 14, 2018 /PRNewswire/ -- Scott+Scott Attorneys at Law LLP ("Scott+Scott"), a national shareholder and consumer rights litigation firm, is investigating whether certain directors and officers of Health Insurance Innovations, Inc. ("Health Innovations" or the "Company") (NASDAQ: HIIQ) breached their fiduciary duties to the Company and its shareholders. If you are a Health Innovations shareholder, you are encouraged to contact Scott+Scott for additional information.
Health Innovations is a cloud-based technology platform that develops, distributes, and administers individual and family health insurance plans, including short-term medical insurance plans and other ancillary products. Health Innovations is not an insurer and does not process or pay claims. Instead, the Company designs these plans on behalf of carriers and discount benefit providers and then markets them through its internal distribution network and external call centers.
On September 11, 2017, Seeking Alpha published an article asserting that: (1) in June 2017, the Company was rejected for licensure in its home state of Florida, as the regulator uncovered multiple undisclosed legal actions against multiple Health Innovations insiders; and (2) the Company privately warned the regulator of a disastrous "domino effect" of denials spreading to other stated where Health Innovations does business, yet failed to disclose this anticipated impact to investors in its regulatory filings. On this news, shares of the Company fell $6.55 per share, or almost 22%. A number of class actions accusing Health Innovations' executives of securities fraud have been filed in federal courts.
What You Can Do
If you are a Health Innovations shareholder, you may have legal claims against Health Innovation's directors and officers. If you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact attorney Joe Pettigrew at (844) 818-6982, or at [email protected].
About Scott+Scott Attorneys at Law LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.
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SOURCE Scott+Scott, Attorneys at Law, LLP