Law Offices of Howard G. Smith continues its investigation on behalf of MediaAlpha, Inc. (“MediaAlpha” or the “Company”) (NYSE: MAX) investors concerning the Company’s possible violations of federal securities laws.

IF YOU ARE AN INVESTOR WHO SUFFERED A LOSS IN MEDIAALPHA, INC. (MAX), CONTACT THE LAW OFFICES OF HOWARD G. SMITH ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS.

Contact the Law Offices of Howard G. Smith to discuss your legal rights by email at howardsmith@howardsmithlaw.com, by telephone at (215) 638-4847 or visit our website at www.howardsmithlaw.com.

What Happened?

On November 4, 2024, MediaAlpha disclosed that it had received a letter from the Federal Trade Commission (“FTC”) staff stating that the FTC Staff is “prepared to recommend the filing of a complaint against the Company,” claiming that MediaAlpha falsely “represented itself as affiliated with government entities, made misleading claims (in particular regarding health insurance products and use of consumers’ personal information) and utilized deceptive advertising.”

On this news, MediaAlpha’s stock price fell $4.46, or 27.7%, to close at $11.62 per share on November 5, 2024, thereby injuring investors.

Then, on August 6, 2025, MediaAlpha announced it was settling claims with the FTC for $45 million. According to the FTC’s complaint, MediaAlpha would use advertisements and websites claiming to provide health insurance quotes to collect information from consumers looking for insurance; in reality, the FTC alleged that MediaAlpha sold nothing to consumers, and the consumer information collected would be sold to telemarketers. According to the FTC, MediaAlpha sold approximately 119 million leads about consumers in 2024 alone.

Contact Us To Participate or Learn More:

If you purchased MediaAlpha securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:

Law Offices of Howard G. Smith,

3070 Bristol Pike, Suite 112,

Bensalem, Pennsylvania 19020,

Telephone: (215) 638-4847

Email: howardsmith@howardsmithlaw.com

Visit our website at: www.howardsmithlaw.com.

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