Bernstein Liebhard, a nationally acclaimed investor rights law firm, announces that a securities class action lawsuit has been filed on behalf of investors who purchased or acquired the securities of SelectQuote Inc.. from February 8, 2021 through May 11, 2021 (the “Class Period”). The lawsuit filed in the United States District Court for the Southern District of New York alleges violations of the Securities Act of 1934.
If you purchased SelectQuote securities, and/or would like to discuss your legal rights and options please visit SelectQuote Shareholder Class Action Lawsuit or contact Rujul Patel toll free at (877) 779-1414 or firstname.lastname@example.org.
The Complaint alleges that, throughout the Class Period, defendants made false and misleading statements and failed to disclose adverse facts about the Company’s business, operations, and prospects. According to the Complaint, Defendants mad material misrepresentations concerning the following: (i) that SelectQuote’s 2019 cohort was underperforming; (ii) that, as a result, the Company’s financial results would be adversely impacted; and (iii) that as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
On May 11, 2021, SelectQuote held a conference call discussing its third quarter 2021 financial results. During this call, the Company 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, the price of SelectQuote shares fell $5.50 per share, or 20%, to close at $21.90 per share on May 12, 2021.
If you wish to serve as lead plaintiff, you must move the Court no later than October 15, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.
If you purchased SelectQuote securities, and/or would like to discuss your legal rights and options please visit https://www.bernlieb.com/cases/selectquoteinc-slqt-shareholder-class-action-lawsuit-fraud-stock-428/apply/ or contact Rujul Patel toll free at (877) 779-1414 or email@example.com.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.
Bernstein Liebhard LLP