Overview

A class action lawsuit has been filed against SelectQuote, Inc. (“SelectQuote” or the “Company”) and certain of the Company’s current and former senior executive officers alleging violations of the federal securities laws. The Company’s common stock trades on the New York Stock Exchange (“NYSE”) exchange under the symbol “SLQT.”

The SelectQuote class action lawsuit was brought on behalf of all persons and entities who purchased or otherwise acquired SelectQuote securities between September 9, 2020, and May 1, 2025, both dates inclusive, (the “Class Period”).

SelectQuote is an insurance broker which sells Medicare Advantage and other health insurance plans online and by telephone.

The SelectQuote lawsuit alleges that on May 1, 2025, the U.S. Department of Justice filed a False Claims Act action against the Company, accusing it of receiving “tens of millions of dollars” in illegal kickbacks from health insurance companies between 2016 and at least 2021. According to the DOJ, these payments were made in exchange for steering Medicare beneficiaries toward the insurers’ plans, regardless of whether those plans were the most suitable or of the highest quality. The DOJ also alleged that SelectQuote conspired with major insurers to discriminate against less profitable beneficiaries, including individuals with disabilities, and falsely claimed to offer “unbiased coverage comparisons” while prioritizing plans from insurers who paid the most.

Following the announcement of the DOJ’s complaint, SelectQuote’s stock price dropped $0.61, or 19.2%, closing at $2.56 per share on May 1, 2025, on unusually heavy trading volume. The lawsuit further alleges that throughout the class period, Defendants failed to disclose that the Company’s Medicare plan recommendations were driven by insurer compensation rather than consumer needs; that SelectQuote did not provide genuine, unbiased comparison shopping for Medicare Advantage plans; that the Company received illegal kickbacks to favor certain insurers; that it limited enrollment in competitors’ plans; and that it was in violation of applicable laws, regulations, and contractual obligations.

According to the lawsuit, this conduct left SelectQuote exposed to regulatory and legal sanctions, including potential False Claims Act liability. As a result, Defendants’ public statements about the Company’s business, operations, and prospects were materially false and misleading, causing investors to suffer significant losses when the truth emerged.

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If you purchased or otherwise acquired SelectQuote securities between September 9, 2020, and May 1, 2025, both dates inclusive, and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at investors@dicellolevitt.com. 

The deadline to apply to the Court to serve as lead plaintiff in the SelectQuote class action lawsuit is October 10, 2025.