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INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of MediaAlpha, Inc. - MAX

1. Pomerantz LLP investigates claims of fraud by MediaAlpha executives. 2. Wolfpack Research accused MediaAlpha of participating in consumer fraud. 3. MediaAlpha's stock fell significantly after fraud allegations emerged. 4. FTC accused MediaAlpha of misleading advertising and deceptive practices. 5. MediaAlpha settled with the FTC for $45 million, admitting no wrongdoing.

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FAQ

Why Very Bearish?

The stock's significant drops indicate strong negative market perception. Historical drops show heightened investor concern over fraudulent practices.

How important is it?

Legal issues and fraud allegations heavily impact investor confidence and market performance. Similar past incidents caused substantial stock price drops, indicating high relevance.

Why Short Term?

Investor sentiment likely to remain low until resolution of legal issues. Immediate impact from past settlements and ongoing investigations.

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NEW YORK, Sept. 24, 2025 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of MediaAlpha, Inc. (“MediaAlpha” or the “Company”) (NYSE: MAX).Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980. The investigation concerns whether MediaAlpha and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.  [Click here for information about joining the class action] On June 24, 2024, Wolfpack Research published a report entitled “MAX: Our Investigation Reveals MAX Is Participating in Consumer Fraud.” In pertinent part, Wolfpack announced that it was “short the insurance lead generator, MediaAlpha, Inc. (NYSE: MAX) following our research into the company’s [Health Insurance] segment[.]” Wolfpack stated that it believed “[MediaAlpha] uses dishonest and sometimes outright fraudulent ads along with deceptive websites to trick consumers into providing their personal information in exchange for a health insurance ‘quote.’ [MediaAlpha] then sells this information as raw lead data or uses it to generate clicks or calls for its lead-buying partners. Our investigation indicates as much as 78% of [MediaAlpha’s] Health [Insurance] lead-buying partners are running boiler room health insurance scams or are flagrantly violating laws concerning telemarketing.” On this news, MediaAlpha’s stock price fell $1.92 per share, or 11.84%, over the following two trading sessions, to close at $14.29 per share on June 25, 2024. Then, on November 4, 2024, MediaAlpha disclosed receipt of a letter from the Federal Trade Commission (“FTC”) staff stating that the FTC staff was “prepared to recommend the filing of a complaint against the Company,” claiming that MediaAlpha falsely “represented itself as affiliated with government entities, made misleading claims (in particular regarding health insurance products and use of consumers' personal information) and utilized deceptive advertising.” On this news, MediaAlpha’s stock price fell $4.46 per share, of 27.7%, to close at $11.62 per share on November 5, 2024. Then, on August 6, 2025, MediaAlpha announced it was settling claims with the FTC for $45 million. According to the FTC’s complaint, MediaAlpha would use advertisements and websites claiming to provide health insurance quotes to collect information from consumers looking for insurance, while in reality, MediaAlpha sold nothing to consumers, and the consumer information it collected would be sold to telemarketers. According to the FTC, MediaAlpha sold approximately 119 million leads about consumers in 2024 alone. Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com. Attorney advertising. Prior results do not guarantee similar outcomes. CONTACT:Danielle PeytonPomerantz LLPdpeyton@pomlaw.com646-581-9980 ext. 7980

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