SelectQuote (SLQT) Securities Lawsuit: What Investors Need to Know – Hagens Berman

SAN FRANCISCO, Aug. 20, 2025 (GLOBE NEWSWIRE) -- A securities class action lawsuit has been filed against SelectQuote (NYSE: SLQT) after the U.S. Department of Justice (DOJ) announced it was intervening in a separate lawsuit against the company. The news of the DOJ's involvement caused a significant 19% drop in SelectQuote's stock price on May 1, 2025. The class action, known as Pahlkotter v. SelectQuote, Inc. et al., No. 1:25-cv-06620 (S.D.N.Y.), seeks to represent investors who bought or otherwise acquired SelectQuote securities between September 9, 2020, and May 1, 2025. Hagens Berman urges SelectQuote investors who suffered substantial losses to submit your losses now. Class Period: Sept. 9, 2020 – May 1, 2025Lead Plaintiff Deadline: Oct. 10, 2025Visit: www.hbsslaw.com/investor-fraud/slqt Contact the Firm Now: SLQT@hbsslaw.com 844-916-0895 Allegations of Misleading Statements and Illegal Kickbacks The lawsuit centers on claims that SelectQuote made false and misleading statements to investors and failed to disclose critical information about its business practices, particularly concerning its Medicare Advantage (MA) sales. Despite the company's public claims of offering "unbiased advice" and "unbiased comparison shopping" for MA plans, the complaint alleges that, in reality, SelectQuote did not disclose that it: Directed Medicare beneficiaries to certain insurers' plans based on compensation rather than the plan's quality or suitability for the customer.Received illegal kickbacks for steering beneficiaries to specific insurers.Failed to comply with applicable laws and regulations.Was vulnerable to legal sanctions, including potential violations of the federal False Claims Act. The complaint filed by the DOJ on May 1, 2025, supported these allegations, claiming that from 2016 through at least 2021, SelectQuote received "tens of millions of dollars" in "illegal kickbacks" for steering Medicare beneficiaries to certain plans. The DOJ also alleged that the company discriminated against less profitable beneficiaries and repeatedly directed customers to the highest-paying plans, contradicting its claims of providing unbiased coverage. Since the news broke, SelectQuote's stock price has continued to fall, highlighting the significant impact of the DOJ and class action lawsuits on the company's value. What is a Securities Class Action Lawsuit? A securities class action lawsuit is a legal proceeding brought on behalf of a group of investors who have been harmed by a company's alleged misrepresentations or fraudulent actions. In this case, the lawsuit alleges that SelectQuote and certain executives misled investors about its business practices, causing financial losses when the truth was revealed. If you are an investor who purchased or acquired SelectQuote securities between September 9, 2020, and May 1, 2025, and suffered losses you may be eligible to actively participate in this lawsuit. Hagens Berman’s Investigation Leading plaintiffs’ rights law firm Hagens Berman is actively investigating the claims against SelectQuote on behalf of investors who have suffered losses. The firm is focused on the extent to which the company's alleged practices may have inflated its financial results, leading to investor losses. Reed Kathrein, the Hagens Berman partner spearheading the firm's investigation, commented on the situation, stating, “SelectQuote's public statements claiming 'unbiased' advice now appear to be in direct conflict with the DOJ's allegations. We are investigating whether these alleged deceptive practices may have directly led to inflated revenues and investor losses.” If you invested in SelectQuote and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses now » If you’d like more information and answers to frequently asked questions about the SelectQuote case and our investigation, read more » Whistleblowers: Persons with non-public information regarding SelectQuote should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email SLQT@hbsslaw.com. About Hagens BermanHagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw. Contact: Reed Kathrein, 844-916-0895

SelectQuote (SLQT) Securities Lawsuit: What Investors Need to Know – Hagens Berman

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