Judge OKs $925M UnitedHealth Deal, Slashes Fees

Law360, New York (August 11, 2009, 10:12 PM EDT) -- A federal judge has approved a $925.5 million settlement with UnitedHealth Group Inc. and two of its former executives over alleged stock options backdating, but has awarded Coughlin Stoia Geller Rudman & Robbins LLP, the plaintiffs' counsel, a significantly smaller fee than the $110 million it requested.

Judge James M. Rosenbaum of the U.S. District Court for the District of Minnesota on Monday ruled that the settlement — which includes an $895 million payment from UnitedHealth, $30 million from former chief executive William McGuire and $500,000...
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