Pomerantz LLP Launches Investigation into MediaAlpha Amid Fraud Allegations

Pomerantz LLP has launched an investigation into MediaAlpha, Inc., which is traded under the ticker MAX on the NYSE, on behalf of its investors. The law firm is examining whether the company, along with certain officers or directors, may have engaged in securities fraud or other illegal business practices. Investors are encouraged to reach out for more information regarding the situation and how they can participate in the investigation.

This probe comes on the heels of a report released by Wolfpack Research on June 24, 2024. The report claimed that MediaAlpha is involved in consumer fraud, particularly within its Health Insurance segment. According to the findings, the company allegedly uses misleading advertisements and deceptive websites to lure consumers into sharing personal information under the guise of receiving health insurance quotes. The report went further, suggesting that a significant portion of MediaAlpha’s lead-buying partners were engaged in scams or violating telemarketing laws. As a result of these allegations, MediaAlpha’s stock suffered a sharp decline, losing 11.84% of its value in just two trading days.

Founded over 85 years ago, Pomerantz LLP has built a reputation as a leading firm in corporate, securities, and antitrust litigation. The firm was established by Abraham L. Pomerantz, who is known for pioneering securities class actions. Pomerantz continues to advocate for investors who have been wronged, seeking recovery in cases of securities fraud and corporate misconduct. Interested investors are urged to contact the firm for more information, as this investigation unfolds.