SelectQuote (SLQT) Securities Fraud Lawsuit Investigation

Shamis & Gentile P.A., a law firm that advocates for investors who are victims of securities fraud, is investigating potential claims against SelectQuote, Inc. (SLQT)

If you purchased SelectQuote securities and have held shares since at least May 2020, you may be eligible to seek corporate reforms, the return of funds back to the company, and a court approved incentive award at no cost to you.

About SelectQuote

SelectQuote, headquartered in Overland Park, KS, and Delaware-incorporated, is an insurance broker that compares quotes from multiple providers offering life, auto, home, and Medicare insurance products, with a major focus on the Medicare Advantage segment.

What’s being investigated

Lawyers are investigating whether SelectQuote and certain of its executives misled the market about the nature of its business model and regulatory exposure. On May 1, 2025, the U.S. Department of Justice filed a False Claims Act complaint, naming SelectQuote among several brokers accused of receiving illegal kickbacks from major insurers to steer Medicare Advantage customers.

The complaint alleges that SelectQuote accepted payments from major insurance providers, including Aetna, that were labeled as “marketing” funds but allegedly tied to sales performance goals and used to limit or “turn off” competing carriers’ plans on its online platform. Prosecutors claim that these payments functioned as performance-based incentives rather than legitimate marketing reimbursements and contributed to selective enrollment practices that disadvantaged certain disabled beneficiaries.

SelectQuote has denied wrongdoing and stated that it has cooperated with federal inquiries. When the DOJ complaint was unsealed on May 1, 2025, the company's stock fell roughly 19%, from $3.17 per share on April 30, 2025 to $2.56 per share by market close on May 1, 2025, causing the company and investors significant harm.

Why investors may be concerned

Several issues have been raised following the DOJ’s allegations and SelectQuote’s public disclosures.

Investor concerns include:

• Potential misleading statements or omissions: Questions have arisen over whether SelectQuote’s descriptions of “unbiased” agent advice were consistent with practices outlined in the DOJ complaint.
• Board and officer oversight: The company’s leadership may face scrutiny regarding the adequacy of systems designed to ensure compliance with Medicare Advantage sales regulations.
• Internal controls and red flags: Critics suggest that insufficient compliance controls or overlooked warning signs may have allowed problematic conduct to continue.
• Proxy disclosures: Concerns have been raised that proxy materials may have omitted or misstated information related to compliance or board oversight.

Your Rights and Next Steps

If you've held shares of SelectQuote during the proposed class period, and still hold some shares today, you may have certain rights.

Potential next steps for shareholders:

• Review your investment records to confirm if you purchased or held SelectQuote securities since May 2020.
• Stay informed about the investigation’s progress and any updates regarding potential legal action.
• Consider submitting your information using the form below. Lawyers are ready to help you understand your rights and guide you through the process if a shareholder lawsuit is filed.

Participating in the investigation does not obligate you to join any lawsuit, but it ensures you receive important updates and can make informed decisions about your options.

How Shareholders Can Take Action

If you have owned SelectQuote shares since at least May 2020, you may be eligible to pursue reforms within the Company, seek the return of misused funds, and request a court-approved incentive payment with no expense to you.

To join the investigation and help protect your rights, complete the form below.