An investigation on behalf of investors of Health Insurance Innovations, Inc. (NASDAQ: HIIQ) shares over potential securities laws violations by Health Insurance Innovations, Inc. and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Health Insurance Innovations, Inc. (NASDAQ: HIIQ) concerning whether a series of statements by Health Insurance Innovations, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Tampa, FL based Health Insurance Innovations, Inc. operates as a cloud-based technology platform and distributor of individual and family health insurance plans, and supplemental products in the United States. Health Insurance Innovations, Inc. reported that its annual Total Revenue rose from $184.51 million in 2016 to $250.47 million in 2017 and that its Net Income increased from $4.51 million in 2016 to $17.88 million in 2017.

Shares of Health Insurance Innovations, Inc. (NASDAQ: HIIQ) reached as high as $62.90 per share on September 28, 2018.

On November 27, 2018, a report was published stating, among other things, that '[p]reviously sealed documents gathered by the FTC directly undermine management's claims and prove that a large boiler room operation recently shuttered by the government for a massive alleged fraud was responsible for roughly half of HIIQ's sales. Evidence also suggests that HIIQ policies have been contaminated by insurance fraud and reveal that other HIIQ brokers prey on consumers with falsehoods.'

Shares of Health Insurance Innovations, Inc. (NASDAQ: HIIQ) declined to as low as $23.90 per share on December 24, 2018.