On September 11, 2017, SeekingAlpha issued an article asserting that in June 2017, Health Insurance Innovations had been rejected for a key insurance license in its home state of Florida, as the regulator uncovered undisclosed legal actions against Company insiders. Health Insurance Innovations privately warned the Florida regulator of the disastrous “domino effect” from this rejection by which licensing denials will occur in other states in which it does business. Following this news, shares of Health Insurance Innovations closed down 21.91% on September 11, 2017.
Additionally, the SeekingAlpha report states that “the slew of massive legal and regulatory problems facing HIIQ is set to unravel in the very near term. There are multiple near-term catalysts. The most visible catalyst is coming in just a few weeks in October 2017“. As mentioned in the article, “the Florida regulator is set to publish its final determination in October 2017 (a few weeks from now)”.
If you have information that could assist in this investigation, including past employees, or if you are a Health Insurance Innovations shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker [email protected]) at 619-814-4471. If emailing, please include a phone number.
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