NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP continues its investigation on behalf of MediaAlpha, Inc. (“MediaAlpha” or the “Company”) (NYSE:MAX) investors concerning the Company’s possible violation of the federal securities laws and/or engagement in other unlawful business practices.
[Click here to learn more about the investigation]
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, the price of MediaAlpha shares declined by $4.46 per share, or approximately 27.7%, from $16.08 per share on November 4, 2024, to close at $11.62 on November 5, 2024.
If you purchased or otherwise acquired MediaAlpha securities, have information, or would like to learn more about this investigation, contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or fill out the contact form below, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars.
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