VSLR: Fiddler on the Roof

|

Vivint appears to have largely concealed a growing pattern of undisclosed lawsuits alleging the company has engaged in a nationwide fraud involving forged customer contracts.  The lawsuits specifically allege that Vivint has forged the signatures of homeowners, complete strangers, relatives, neighbors, and even a dead person onto sham solar contracts.  Court documents suggest Vivint’s corporate office even has spreadsheets keeping track of the fraud allegations via an internal system. Read More

INS: A Wolf in Pete’s Clothing

|

Relentless hype on social media has propelled shares to all-time highs and a monster valuation of roughly 15x trailing sales and 40x trailing EBITDA. While INS is touted as a fintech set to disrupt the payments space with breakthrough technology, we believe the company is merely a glorified Indian outsourcing business that, like so many other stock promotions, will leave investors chasing the prospect of quick riches disappointed by the underlying economics and growth prospects. Read More

HIIQ: The Big Deception

|

We believe HIIQ management has made a series of misleading statements that conceal thousands of customer complaints that have not been disclosed to investors. Read More

HIIQ: New FTC Revelations Contradict Management’s Assertions

|

A recent court filing made by the Federal Trade Commission reveals that HIIQ has continued to charge consumers millions of dollars for thousands of “virtually worthless insurance products” issued by HIIQ to families who the FTC says were defrauded by boiler rooms run by Steve Dorfman’s Simple Health companies. We believe these new documents contradict management’s assertions and suggest the company is still harvesting cash from the victims of a giant alleged fraud. Read More

Vanda: In the Land of The Blind, The One-Eyed Man is King

|

In recent years, the public markets have witnessed a certain underclass of companies that have chosen to bilk the health care system at the expense of taxpayers and patients. Vanda and its CEO, Mihael Polymeropolous, in our opinion, may prove to be the next corporation to have embraced this ethos. Read More

Why Would HIIQ Sell Policies from This Boca Raton Insurer?

|

Documents reveal that HIIQ has sold a significant amount of policies from a Boca Raton insurer with less than $7 million in capital and ties to previous insurance frauds, further calling into question HIIQ management’s credibility and claims about its compliance. Read More