NEW YORK, NY / ACCESSWIRE / June 28, 2024 / Levi & Korsinsky notifies investors that it has commenced an investigation of MediaAlpha, Inc. ("MediaAlpha") (NYSE:MAX) concerning possible violations of federal securities laws.
Wolfpack Research issued a report on June 24, 2024, entitled "MAX: Our Investigation Reveals MAX Is Participating in Consumer Fraud." In pertinent part, Wolfpack announced that it was "short the insurance lead generator, MediaAlpha, Inc. (NYSE: MAX) following our research into the company's [Health Insurance] segment[.]" Further, Wolfpack stated that it believed "[MediaAlpha] uses dishonest and sometimes outright fraudulent ads along with deceptive websites to trick consumers into providing their personal information in exchange for a health insurance 'quote.' [MediaAlpha] then sells this information as raw lead data or uses it to generate clicks or calls for its lead-buying partners. Our investigation indicates as much as 78% of [MediaAlpha's] Health [Insurance] lead-buying partners are running boiler room health insurance scams or are flagrantly violating laws concerning telemarketing."
Following this news, MediaAlpha stock dropped over 6% on June 25, 2024. To obtain additional information, go to:
https://zlk.com/pslra-1/mediaalpha-lawsuit-submission-form?prid=88184&wire=1
or contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212)363-7500.
WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States. Attorney Advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
[email protected]
Tel: (212)363-7500
Fax: (212)363-7171
https://zlk.com/
SOURCE: Levi & Korsinsky, LLP