UnitedHealth CEO Issues Company Mea Culpa

Law360, New York (December 19, 2006, 12:00 AM EST) -- The chief executive of embattled UnitedHealth Group Inc. tried to paint a rosy picture for the future while revealing that the backdating of stock options could cost the health care provider more than $600 million.

On Tuesday, Chief Executive Stephen Hemsley expressed his regret over the backdating scandal at the company’s annual investor conference in New York and tried to articulate how difficult the past few months had been for the health care giant.

"[We want people to know] how deeply we regret the shortcomings in...
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