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On November 4, 2024, MediaAlpha disclosed receipt of a letter from the FTC, which stated that the FTC was “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.” MediaAlpha’s stock fell over 27% following this news. The investigation concerns whether MediaAlpha and certain of its officers and/or directors have engaged in securities fraud.
In order to be eligible to join the MAX class action lawsuit, you must have incurred a loss on shares of MediaAlpha purchased during the class period listed above.
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