SLQT ALERT – Nationally classified shareholder rights firm, Labaton Sucharow, is investigating SelectQuote, Inc. (NYSE: SLQT) for potential securities violations and breach of fiduciary duty
NEW YORK, NY / ACCESSWIRE / September 17, 2021 / Labaton Sucharow, a nationally ranked and award-winning shareholder advocacy firm, is investigating potential securities violations and breach of fiduciary claims against SelectQuote, Inc. (NYSE: SLQT).
On May 11, 2021, SelectQuote held a conference call as part of its third quarter 2021 financial results in which it revealed that its fourth quarter results would be impacted by a “negative cohort and tail adjustment” due to of “the persistence below the second term for the 2019 cohort.”
Following this news, the Company’s share price fell $ 5.50, or 20%, to close at $ 21.90 per share on May 12, 2021, on unusually high trading volume.
The lawsuit filed in this class action alleges that throughout the class period, the defendants made materially false and / or misleading statements, and failed to disclose material adverse facts regarding the business, operations and prospects of the society. Specifically, the defendants made false claims regarding the following: (1) that the 2019 SelectQuote cohort was underperforming; (2) that as a consequence, the financial results of the Company would be adversely affected; and (3) that as a result of the foregoing, the Defendants’ positive statements regarding the business, operations and prospects of the Company were materially misleading and / or lacked reasonable basis.
Investors who have purchased or otherwise acquired SelectQuote, Inc. (“SelectQuote” or “the Company”) (NYSE: SLQT) between February 8, 2021 and May 11, 2021 inclusive (the “Class Period”) are hereby notified that they have until October 15, 2021 to propose to the Court to serve as lead plaintiff in this action.
If you currently own stocks or options in SelectQuote, Inc. and have suffered a loss, Click here to participate.
If you would like to receive additional information and protect your investments free of charge, please contact David J. Schwartz using the toll-free number (800) 321-0476 or by e-mail at [email protected]
About the firm
Labaton Sucharow LLP is one of the world’s leading complex litigation firms representing clients in securities, antitrust, corporate governance and shareholder rights, as well as consumer cybersecurity and data confidentiality. Labaton Sucharow has been recognized for excellence by the courts and by his peers, and is regularly ranked in major industry publications. Offices are located in New York, NY, Wilmington, DE and Washington, DC More information on Labaton Sucharow is available at Labaton.com.
David J. Schwartz
THE SOURCE: Labaton Sucharow LLP
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