NEW YORK, Feb. 19, 2019 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Health Insurance Innovations, Inc.  (“HIIQ” or the “Company”) (NASDAQ: HIIQ). Such investors are encouraged to obtain additional information and assist the investigation by visiting the firm’s site: www.bgandg.com/hiiq.

The investigation concerns whether HIIQ and certain of its officers and/or directors have violated federal securities laws.

On November 2, 2018, HIIQ announced that it had immediately suspended its relationship with Health Benefits One LLC (“HBO”), an entity which the Federal Trade Commission (“FTC”) alleged had misleadingly sold HII policies, among others, as “comprehensive health insurance.”  HIIQ additionally stated that, for the 2018 fiscal year to date, HBO “was the agency of record for less than 10% of HIIQ’s submitted policies.”  On this news, HIIQ’s stock price fell $4.47 per share, more than 8%, to close at $46.27 per share on November 2, 2018.  HIIQ’s stock price continued to decline over the next trading session to close at $39.62 per share on November 5, 2018.  Then, on November 27, 2018, Aurelius Value published a report entitled “HIIQ: Boiler Rooms, ‘Worthless’ Policies, and Defrauded Families,” alleging, among other things, that more than half of the Company’s revenues were derived from boiler room operations that had recently been shut down by the FTC and that a “material portion” of the Company’s policies were likely “contaminated by insurance fraud.”  Following this news, HIIQ’s stock price fell $1.93, or nearly 6%, to close at $31.20 per share on November 27, 2018.

If you are aware of any facts relating to this investigation, or purchased HIIQ shares, you can assist this investigation by visiting the firm’s site: www.bgandg.com/hiiq. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484. 

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique.  Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients.  In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration.   Attorney advertising. Prior results do not guarantee similar outcomes.

Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com