NEW YORK--(BUSINESS WIRE)-- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Health Insurance Innovations, Inc. (NASDAQ: HIIQ) who purchased shares between March 4, 2016 and September 11, 2017. The action, which was filed in the United States District Court for the Middle District of Florida, alleges that the Company violated federal securities laws.
In particular, the complaint alleges that throughout the Class Period, defendants made materially false and/or misleading statements and/or failed to disclose that (1) Health Insurance Innovations’ application for a third-party insurance administrators license with the Florida Office of Insurance Regulation was denied due in part to material errors and omissions; (2) the Florida Office of Insurance Regulation’s rejection of Health Insurance Innovations’ application for a third-party insurance administrators license could result in its losing licenses in the other states; and (3) as a result, Health Insurance Innovations’ public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
Shareholders have until November 13, 2017 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
If you suffered a loss during the class period and wish to obtain additional information, please contact Joseph Klein, Esq. by telephone at 212-616-4899 or visit http://www.kleinstocklaw.com/pslra-sb/health-insurance-innovations-inc?wire=2.
Joseph Klein, Esq. is an experienced attorney and has also practiced as a Certified Public Accountant. Mr. Klein represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.
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The Klein Law Firm
Joseph Klein, Esq., 212-616-4899
Source: The Klein Law Firm