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SelectQuote, Inc.

Securities Class Action

  • Date:
  • 10/10/2025
  • Company Name:
  • SelectQuote, Inc.
  • Stock Symbol:
  • SLQT
  • Class Period:
  • FROM 9/9/2020 TO 5/1/2025
  • Status:
  • Filed
  • Filing Date:
  • 8/11/2025

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Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against SelectQuote, Inc. (“SelectQuote” or the “Company”) (NYSE:SLQT) in the United States District Court for the Southern District of New York on behalf of all persons and entities who purchased or otherwise acquired SelectQuote securities between September 9, 2020 and May 1, 2025, both dates inclusive (the “Class Period”). Investors have until October 10, 2025 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

On May 1, 2025, at approximately noon eastern standard time, the U.S. Department of Justice (“DOJ”) filed a False Claims Act complaint against SelectQuote, alleging, “[f]rom 2016 through at least 2021”1 SelectQuote received “tens of millions of dollars” in “illegal kickbacks” from health insurance companies in exchange for steering Medicare beneficiaries to enroll in the insurers’ plans. Further, SelectQuote, in exchange for kickbacks, engaged in a conspiracy with major insurers to illegally discriminate against beneficiaries deemed to be less profitable, including those with disabilities. The DOJ concluded that SelectQuote made materially false claims by stating it offers “unbiased coverage comparisons” when in fact it “repeatedly directed Medicare beneficiaries to the plans offered by insurers that paid them the most money, regardless of the quality or suitability of the insurers’ plans.” 
 
On this news, SelectQuote’s stock price fell $0.61, or 19.2%, to close at $2.56 per share on May 1, 2025, on unusually heavy trading volume.
 
The complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose: (1) that the Company was directing Medicare beneficiaries to the plans offered by insurers that best compensated SelectQuote, regardless of the quality or suitability of the insurers’ plans; (2) that SelectQuote did not provided unbiased comparison shopping for Medicare Advantage insurance plans; (3) that SelectQuote received illegal kickbacks to steer Medicare beneficiaries to certain insurers and limit enrollment in competitors’ plans; (4) that as a result, SelectQuote had not complied with applicable laws, regulations, and contractual provisions; (5) that SelectQuote was vulnerable to regulatory and legal sanctions as a result of its conduct, including claims that it had violated the False Claims Act; and (6) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
 
If you purchased or otherwise acquired SelectQuote shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Marion Passmore by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out the form below.  There is no cost or obligation to you.

Contact Instructions
Please contact Brandon Walker or Marion Passmore by email at investigations@bespc.com with any questions about this case.
The individual or institution below (“Plaintiff”) has reviewed and agrees to the Bragar Eagel & Squire, P.C. (“BESPC”) retainer agreement and authorizes BESPC to prosecute an action on Plaintiff’s behalf under the federal securities laws or applicable state laws to recover damages on behalf of investors in SelectQuote. BESPC will prosecute the action on a full contingency basis and will forward all costs and expenses.
 

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