MediaAlpha slumps after disclosing settlement demand from US FTC
** Shares of insurance customer acquisition platform MediaAlpha MAX.N fall as much as 36.5%, last down 27.6% at $11.64
** MAX late on Monday disclosed it had received an initial settlement demand from the U.S. Federal Trade Commission (FTC)
** FTC staff prepared to recommend that FTC approve the filing of a complaint against the company — MAX
** MAX said FTC staff has proposed to seek injunctive and monetary relief and civil penalties
** In June, Wolfpack Research took a short position in MAX alleging participation in financial fraud
** As of last close, MAX shares up 44% YTD
Reporting by Arasu Kannagi Basil in Bengaluru
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