SelectQuote Investor Suit Nears Oct. 10 Lead-Plaintiff Deadline

Overview

• The securities class action, Pahlkotter v. SelectQuote Inc. et al., targets purchasers from Sept. 9, 2020 through May 1, 2025 and is pending in the Southern District of New York.
• The DOJ filed a False Claims Act complaint on May 1 alleging SelectQuote took tens of millions in illegal kickbacks and steered Medicare beneficiaries toward higher-commission plans.
• Plaintiff filings cite claims that beneficiaries did not receive unbiased plan comparisons and that less profitable enrollees, including people with disabilities, were disadvantaged.
• SelectQuote shares fell about 19% on May 1 following the DOJ action, and multiple law firms are now urging motions for lead plaintiff ahead of the Oct. 10 cutoff.
• Hagens Berman is probing whether revenue was inflated and is recruiting whistleblowers, while no class has been certified and the DOJ civil case remains unresolved.