The law firm of Kirby McInerney LLP reminds investors that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of those who acquired SelectQuote, Inc. (“SelectQuote” or the “Company”) (NYSE: SLQT) securities during the period between February 8, 2021 and May 11, 2021, inclusive (the “Class Period”). Investors have until October 15, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
SelectQuote is a direct-to-consumer distribution platform that offers complex senior health, life, and auto & home insurance policies from a curated panel of insurance carriers.
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, the Company’s share price declined by $5.50 per share, or approximately 20%, from $27.40 per share to close at $21.90 per share on May 12, 2021.
The lawsuit alleges throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants made material misrepresentations concerning the following: (1) that SelectQuote’s 2019 cohort was underperforming; (2) that, as a result, the Company’s financial results would be adversely impacted; and (3) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you purchased or otherwise acquired SelectQuote securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at investigations@kmllp.com, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: http://www.kmllp.com.
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Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.
212-371-6600
https://www.kmllp.com
investigations@kmllp.com
