Rosen Law Firm Encourages MediaAlpha, Inc. Investors to Inquire About Securities Class Action Investigation – MAX
NEW YORK--(BUSINESS WIRE)--Why: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of MediaAlpha, Inc. (NYSE: MAX) resulting from allegations that MediaAlpha, Inc. may have issued materially misleading business information to the investing public.
“short the insurance lead generator, MediaAlpha, Inc. (NYSE: MAX) following our research into the company’s [Health Insurance] segment[.]”
So what: If you purchased MediaAlpha securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.
What to do next: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=26634 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action.
On June 24, 2024, Wolfpack Research issued a report entitled “MAX: Our Investigation Reveals MAX Is Participating in Consumer Fraud.” In pertinent part, Wolfpack announced that it was “short the insurance lead generator, MediaAlpha, Inc. (NYSE: MAX) following our research into the company’s [Health Insurance] segment[.]” Further, Wolfpack stated that it believed “[MediaAlpha] 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.’ [MediaAlpha] then sells this information as raw lead data or uses it to generate clicks or calls for its lead-buying partners. Our investigation indicates as much as 78% of [MediaAlpha’s] Health [Insurance] lead-buying partners are running boiler room health insurance scams or are flagrantly violating laws concerning telemarketing.”
On this news, MediaAlpha stock fell 5.3% on June 24, 2024, and 6.8% on June 25, 2024.
Why Rosen Law: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
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