Bleichmar Fonti & Auld LLP is investigating MediaAlpha's board and senior management for potential fiduciary duty breaches tied to a $45 million FTC settlement over alleged misleading claims and deceptive advertising. The FTC had prepared a complaint in October 2024 accusing MediaAlpha of violating the FTC Act, the Telemarketing Sales Rule, and the Government and Business Impersonation Rule by misrepresenting government affiliations and making misleading health insurance and data-use claims. MediaAlpha settled in July 2025, agreeing to pay $45 million and implement governance reforms, with the FTC issuing final approval in August 2025. The investigation also examines whether insiders sold large amounts of stock while the complaint was pending, potentially exploiting non-public information before full disclosure to shareholders.
MediaAlpha Inc.FTC settlement for deceptive advertising and potential fiduciary breaches by board