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By Al Barbarino (July 20, 2022, 5:27 p.m. EDT) – The United States Securities and Exchange Commission on Wednesday reached a settlement for more than $12 million with a Florida-based health technology company and its CEO, who allegedly fooled investors into thinking the company had an impeccable customer satisfaction rating when in fact it had logged tens of thousands of complaints.

Between March 2017 and March 2020, the company formerly known as Health Insurance Innovations and its ex-CEO Gavin Southwell covered up consumer complaints about its health insurance products during earnings calls and investor presentations. , said the SEC.

The deception helped inflate the value of the company’s shares, allowing Southwell to collect $320,000 in…

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