Wolf Haldenstein Adler Freeman & Herz LLP announces that it is investigating MediaAlpha, Inc. for potential violations of federal securities laws
NEW YORK, Aug. 6, 2024 /PRNewswire/ -- Wolf Haldenstein Adler Freeman & Herz LLP ("Wolf Haldenstein"), a preeminent national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors in MediaAlpha, Inc. (NYSE: MAX) ("MediaAlpha" or the "Company")
The investigation focuses on whether the Company issued false and/or misleading statements and/or did not disclose information pertinent to investors.
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MediaAlpha aims to help insurance carriers and distributors target and acquire customers more efficiently and at greater scale through technology and data science. The Company's technology platform brings leading insurance carriers and high-intent customers together through a real-time, programmatic, transparent and results-driven ecosystem.
On June 24, 2024, Wolfpack Research published a report on MediaAlpha, which alleges that the Company https://www.whafh.com/united-of-omaha-d-b-a-mutual-of-omaha-data-breach-investigation/ "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.'"
Wolfpack Research then alleges that it "sells this information as raw lead data or uses it to generate clicks or calls for its lead-buying partners" and that "as much as 78% of [MediaAlpha's] Health lead-buying partners are running boiler room health insurance scams or are flagrantly violating laws concerning telemarketing." Wolfpack Research also asserts that the Company's Health segment is part of an ongoing Federal Trade Commission investigation.
On this news, the Company's stock price declined from a close of $16.21 per share on June 21, 2024, down to a closing price of $13.08 per share on June 26, 2024.
Wolf Haldenstein Adler Freeman & Herz LLP has experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas, and offices in New York, Chicago, Nashville, and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly lauded by the courts, which have appointed it to major positions in complex securities, multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735 or via e-mail at classmember@whafh.com.
Contact:
Wolf Haldenstein Adler Freeman & Herz LLP
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
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