Judge Blocks McGuire’s Options, Retirement Package

Law360, New York (December 1, 2006, 12:00 AM EST) -- Shareholders of UnitedHealth Group Inc. have gotten their wish. A district court judge has agreed to block former CEO William McGuire’s access to some of his assets until the conclusion of the class action lawsuit alleging McGuire profited from options backdating.

Judge James Rosenbaum of the U.S. District Court for the District of Minnesota ruled that McGuire could not exercise any of his stock options or receive any retirement pay until a committee determines whether UnitedHealth should file claims against the ousted executive.

The judge’s ruling...
To view the full article, register now.