NEW YORK, June 02, 2025 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims TechTarget, Inc. (NASDAQ:TTGT), SelectQuote, Inc. (NYSE: SLQT), GoHealth, Inc. (NASDAQ:GOCO), and Cleveland-Cliffs Inc. (NYSE:CLF). Our investigations concern whether these companies have violated the federal securities laws and/or engaged in other unlawful business practices. Additional information about each case can be found at the link provided.
TechTarget, Inc. (NASDAQ:TTGT)
On December 6, 2024, TechTarget disclosed that its previous financial statements “should no longer be relied upon and were being restated” because of certain “errors” which had been identified. These financial statements included those filed with the Company’s Registration Statement and related to the “Informa Tech Digital Businesses of Informa PLC.” On this news, the price of TechTarget shares declined by $2.09 per share, from $25.54 per share on December 6, 2024, to close at $23.48 on December 9, 2024.
Then, on March 31, 2025, TechTarget disclosed that it would be unable to timely file its 2024 Annual Report. The Company revealed it needed to “further evaluate technical accounting matters,” related to its combination with the “Informa Tech Digital Businesses.” The Company disclosed “[b]ased on preliminary information” it “expects to record a pre-tax non-cash goodwill impairment charge related to the business in the range of approximately $70m to $110m” for the 2024 fiscal year. On this news, the price of TechTarget shares declined by $2.05 per share, from $14.81 per share on March 31, 2025, to close at $12.76 on April 1, 2025.
For more information on the TechTarget investigation go to: https://bespc.com/cases/TTGT
SelectQuote, Inc. (NYSE: SLQT)
On May 1, 2025, the U.S. Department of Justice (“DOJ”) announced the filing of a False Claims Act complaint against several health insurance companies and insurance broker organizations, including SelectQuote, “alleg[ing] that from 2016 through at least 2021, the defendant insurers paid hundreds of millions of dollars in illegal kickbacks to the defendant brokers in exchange for enrollments into the insurers’ Medicare Advantage plans.”
On news of the DOJ’s lawsuit, SelectQuote’s stock price fell $0.61 per share, or 19.24%, to close at $2.56 per share on May 1, 2025.
For more information on the SelectQuote investigation go to: https://bespc.com/cases/SLQT
GoHealth, Inc. (NASDAQ:GOCO)
On May 1, 2025, the U.S. Department of Justice ("DOJ") announced the filing of a False Claims Act complaint against several health insurance companies and insurance broker organizations, including GoHealth, "alleging that from 2016 through at least 2021, the defendant insurers paid hundreds of millions of dollars in illegal kickbacks to the defendant brokers in exchange for enrollments into the insurers' Medicare Advantage plans."
On news of the DOJ's lawsuit, GoHealth's stock price fell $1.09 per share, or 10.35%, to close at $9.44 per share on May 1, 2025.
For more information on the GoHealth investigation go to: https://bespc.com/cases/GOCO
Cleveland-Cliffs Inc. (NYSE:CLF)
On May 7, 2025, Cleveland-Cliffs issued a press release reporting its financial results for the first quarter of 2025. Among other items, Cleveland-Cliffs reported a larger than expected adjusted loss and an 11% year-over-year revenue decline to $4.63 billion. The Company also announced plans to fully or partially idle six steel plants. Cleveland-Cliffs’ Chief Executive Officer attributed the operational changes to negative effects from underperforming non-core assets and the lagging effect of lower index prices in late 2024 and early 2025 and said that the Company is repositioning its portfolio away from non-core markets, including rail, high-carbon sheet, and specialty plate products, and toward the automotive industry. On this news, the price of Cleveland-Cliffs shares declined by $1.34 per share, from $8.49 per share on May 7, 2025, to close at $7.15 on May 8, 2025.
For more information on the Cleveland-Cliffs investigation go to: https://bespc.com/cases/CLF
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
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Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
