UnitedHealth To Settle Options Battles For $912M

Law360, New York (July 2, 2008, 12:00 AM EDT) -- Minneapolis-based managed health care company UnitedHealth Group announced Wednesday that it has reached proposed settlement agreements in two lawsuits relating to its stock options practices.

UnitedHealth Group has agreed to pay $895 million to settle a securities class action and $17 million to settle a lawsuit brought under the Employee Retirement Income Security Act.

UnitedHealth Group is one of many companies that became the target of investigations by federal prosecutors and the U.S. Securities and Exchange Commission over alleged stock options backdating. Last year, UnitedHealth Group...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.