WHY: Rosen Law Firm, a prominent global investor rights law firm, is actively investigating potential securities claims for shareholders of MediaAlpha, Inc. (NYSE: MAX). This investigation follows allegations that MediaAlpha may have provided materially misleading business information to investors.
SO WHAT: If you invested in MediaAlpha securities, you might be eligible for compensation without any upfront costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action lawsuit to seek recovery of investor losses.
On June 24, 2024, Wolfpack Research released a report titled “MAX: Our Investigation Reveals MAX Is Participating in Consumer Fraud.” The report revealed that Wolfpack was “short” on MediaAlpha, Inc. (NYSE: MAX) after investigating the company’s Health Insurance segment. Wolfpack alleged that MediaAlpha utilized misleading and potentially fraudulent advertisements and deceptive websites to coerce consumers into providing personal information under the guise of offering health insurance quotes. According to the report, MediaAlpha then sold this information as raw leads or used it to generate clicks or calls for its lead-buying partners. The investigation indicated that up to 78% of MediaAlpha’s Health Insurance lead-buying partners might be involved in boiler room health insurance scams or violating telemarketing laws.
Following the release of this report, MediaAlpha’s stock dropped by 5.3% on June 24, 2024, and by 6.8% on June 25, 2024.
Why Rosen Law:
We advise investors to choose experienced legal counsel with a proven track record. Many firms issuing notices may lack the necessary expertise, resources, or recognition in securities class actions. Often, these firms do not actively litigate such cases. The Rosen Law Firm, however, has extensive experience in representing investors globally, focusing on securities class actions and shareholder derivative litigation. The firm secured the largest-ever securities class action settlement against a Chinese company and was ranked No. 1 by ISS Securities Class Action Services for the number of securities class action settlements in 2017. Rosen Law Firm has consistently ranked among the top 4 firms since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone, the firm secured over $438 million for investors. Additionally, in 2020, founding partner Laurence Rosen was honored by Law360 as a Titan of the Plaintiffs’ Bar, and many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
