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SAN DIEGO & TAMPA, Fla.–(BUSINESS WIRE)–Shareholder rights law close Robbins LLP reminds investors that a client of Bloom Allowance Innovations, Inc. (NASDAQ: HIIQ) filed a acquired complaint adjoin the company’s admiral and admiral for declared breaches of fiduciary duties and gross mismanagement. Bloom Allowance Innovations, Inc. operates a cloud-based technology belvedere and is a benefactor of alone and ancestors bloom allowance plans.

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If you suffered a accident as a aftereffect of HIIQ’s misconduct, bang here.

Bloom Allowance Innovations, Inc. (HIIQ) Accused of Misleading Investors

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According to the complaint, HIIQ filed its Florida third-party ambassador (“TPA”) appliance in July 2016, which HIIQ bare to accomplish its amount business. While HIIQ was in its appliance process, the aggregation was beneath analysis for allegedly counterfeit business practices in 42 states. HIIQ’s Florida TPA appliance was denied in June 2017, due to actual errors and omissions, including the blank that two of its admiral had been called in lawsuits “involving dishonesty, aperture of assurance or a banking dispute.” HIIQ buried the abnegation until it filed its August 4, 2017 Form 10-Q, which bootless to acknowledge the call of accepting a TPA authorization and advisedly chaste the potentially adverse after-effects the abnegation would accept on aggregation operations. Then, in September 2017, Seeking Alpha appear an commodity absolute the adverse “domino effect” the TPA abnegation caused, including accident of added licenses. On this news, the allotment amount beneath by 37%, closing at $19.75, and has yet to recover.

Bloom Allowance Innovations, Inc. (HIIQ) Shareholders Accept Legal Options

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Contact us to apprentice more: Leo Kandinov (800) 350-6003 [email protected] Actor Information Form

Robbins LLP is a nationally accustomed baton in actor rights law. The close represents alone and institutional investors in actor acquired and balance chic activity lawsuits, and has helped its audience apprehend added than $1 billion of amount for themselves and the companies in which they accept invested. Bang actuality to accept chargeless alerts from Stock Watch back companies appoint in wrongdoing.

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