LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation of MediaAlpha, Inc. (“MediaAlpha” or the “Company”) (NYSE: MAX) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On November 4, 2024, MediaAlpha disclosed that it had received a letter from the Federal Trade Commission (“FTC”) staff stating that the FTC Staff is “prepared to recommend the filing of a complaint against the Company,” claiming that MediaAlpha falsely “represented itself as affiliated with government entities, made misleading claims (in particular regarding health insurance products and use of consumers’ personal information) and utilized deceptive advertising.”
On this news, MediaAlpha’s stock price fell $4.46, or 27.7%, to close at $11.62 per share on November 5, 2024, thereby injuring investors.
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If you purchased MediaAlpha securities, have information or 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 Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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