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SelectQuote Inc. Class Action Lawsuit - SLQT

Company Name
SelectQuote Inc.
Stock Symbol
SLQT
Class Period
February 8, 2021 to May 11, 2021
Motion Deadline
October 15, 2021
Court
Southern District of New York
21 days left to seek lead plaintiff status

Case Summary

The SelectQuote class action lawsuit charges SelectQuote, Inc. (NYSE: SLQT) and certain of its top executives with violations of the Securities Exchange Act of 1934.  The SelectQuote class action lawsuit seeks to represent purchasers of SelectQuote securities between February 8, 2021 and May 11, 2021, inclusive (the “Class Period”).  The SelectQuote class action lawsuit was commenced on August 16, 2021 in the Southern District of New York and is captioned Hartel v. SelectQuote, Inc., No. 21-cv-06903.

If you wish to serve as lead plaintiff of the SelectQuote class action lawsuit, please provide your information by clicking here.  You can also contact attorney Jennifer Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at jcaringal@rgrdlaw.com.  Lead plaintiff motions for the SelectQuote class action lawsuit must be filed with the court no later than October 15, 2021.

CASE ALLEGATIONS: The SelectQuote class action lawsuit alleges that, throughout the Class Period, defendants made false and misleading statements and failed to disclose that: (i) SelectQuote’s 2019 cohort was underperforming; (ii) as a result, SelectQuote’s financial results would be adversely impacted; and (iii) consequently, defendants’ positive statements about SelectQuote’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

On May 11, 2021, SelectQuote held a conference call in connection with its third quarter 2021 financial results during which it disclosed that its fourth quarter results would be impacted by a “negative cohort and tail adjustment” due to “lower second-term persistency for the 2019 cohort.”  On this news, SelectQuote’s share price fell approximately 20%, damaging investors.

THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased SelectQuote securities during the Class Period to seek appointment as lead plaintiff in the SelectQuote class action lawsuit.  A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class.  A lead plaintiff acts on behalf of all other class members in directing the SelectQuote class action lawsuit.  The lead plaintiff can select a law firm of its choice to litigate the SelectQuote class action lawsuit.  An investor’s ability to share in any potential future recovery of the SelectQuote action lawsuit is not dependent upon serving as lead plaintiff.

ABOUT ROBBINS GELLER RUDMAN & DOWD LLP: With 200 lawyers in 9 offices nationwide, Robbins Geller Rudman & Dowd LLP is the largest U.S. law firm representing investors in securities class actions.  Robbins Geller attorneys have obtained many of the largest shareholder recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig.  The 2020 ISS Securities Class Action Services Top 50 Report ranked Robbins Geller first for recovering $1.6 billion for investors last year, more than double the amount recovered by any other securities plaintiffs’ firm.

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