HIIQ Securities Litigation

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The deadline for submitting claims was April 8, 2021. Late-filed claims may still be accepted, provided they are received by the Claims Administrator by May 25, 2021.

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On February 23, 2021, Hon. Magistrate Judge Sean Flynn conducted a public fairness hearing for the proposed Settlement by video conference. On March 23, 2021, Judge Flynn issued a Report and Recommendation recommending that the Settlement be approved and that the Lead Counsel’s unopposed motion for fees and expenses be granted. On March 30, 2021, Hon. District Judge Thomas Barber entered his Order adopting Judge Flynn’s Report and Recommendation and granting final approval of the Settlement as well as the motion for fees and expenses. These and certain other documents for the case are available here.

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If you purchased or otherwise acquired Health Insurance Innovations, Inc. (“HIIQ”) Class A Common Stock (trading symbol HIIQ) or exchange-traded call options on HIIQ Class A Common Stock, or sold (wrote) exchange-traded put options on HIIQ Class A Common Stock between August 4, 2017, and September 11, 2017, inclusive, you could get a payment from a class action settlement.

Court-appointed Lead Plaintiff Robert Rector, on behalf of himself and the Court-certified Settlement Class, has reached a proposed settlement in this class action lawsuit (the “Litigation”) for a total of Two-Million Eight-Hundred Thousand Dollars ($2,800,000.00) in cash that, if approved, will resolve all claims in the Litigation.

Please read the Notice to fully understand your rights and options.

If you are a member of the Settlement Class, in order to be potentially eligible to receive payment from the Settlement, you must submit a Proof of Claim and Release Form (“Claim Form”) postmarked, no later than April 8, 2021.

Your Legal Rights and Options in This Settlement

Submit a Proof of Claim and Release	This is the only way to be eligible to receive a payment from the Settlement. If you are a Settlement Class Member, you will be bound by the Settlement as approved by the Court, and you will give up any Released Claims that you have against the Released Persons, so Lead Counsel believes it is in your interest to submit a Proof of Claim and Release Form. Proof of Claim and Releases must be postmarked no later than April 8, 2021. Payments to eligible claimants will be made only after any appeals are resolved, and after the completion of all claims processing. Please be patient, as this process will take some time to complete.
Exclude Yourself From The Settlement	If you do not wish to be included in the Class and you do not wish to participate in the proposed Settlement, you may request to be excluded, as described in more detail in FAQ 13. You cannot exclude yourself by phone or by email. If you ask to be excluded from the Class, you will not get any settlement payment. Exclusion requests must be received no later than February 2, 2021.
Object To The Settlement	If you do not like the proposed Settlement, the proposed Plan of Allocation, or the request for attorneys’ fees and reimbursement of Litigation Expenses, you may write to the Court and explain why you do not like them. You cannot object to the Settlement, the Plan of Allocation, or the fee and expense request unless you are a Settlement Class Member and you did not previously submit a request for exclusion from the Settlement Class. Objections must be received no later than February 2, 2021.
Go to a Hearing	You may attend the Settlement Hearing by filing a written objection and Notice of Intention to Appear postmarked no later than February 2, 2021. The Notice of Intention to Appear allows you to speak in Court, at the discretion of the Court, about the fairness of the proposed Settlement, the Plan of Allocation, or the request for attorneys’ fees and reimbursement of Litigation Expenses. On February 23, 2021, Hon. Magistrate Judge Sean Flynn conducted a public fairness hearing for the proposed Settlement by video conference. On March 23, 2021, Judge Flynn issued a Report and Recommendation recommending that the Settlement be approved and that the Lead Counsel’s unopposed motion for fees and expenses be granted. On March 30, 2021, Hon. District Judge Thomas Barber entered his Order adopting Judge Flynn’s Report and Recommendation and granting final approval of the Settlement as well as the motion for fees and expenses. These and certain other documents for the case are available here.
Do Nothing	If you are a member of the Settlement Class and you do not submit a Proof of Claim and Release by April 8, 2021, or by a later date, if any, specified by the Court, you will not be eligible to receive any payment from the Settlement Fund. You will, however, remain a member of the Settlement Class, which means that you give up your right to sue about the claims that are resolved by the Settlement, and you will be bound by any judgments or orders entered by the Court in the Litigation.

The Frequently Asked Questions page of this website has more information on your rights as a Member of the Settlement Class in this Action.