UnitedHealth Faces Class Action For Options Backdating

Law360, New York (May 16, 2006, 12:00 AM EDT) -- Things have not been looking healthy lately for UnitedHealth Group Inc. The healthcare provider was already under fire from the SEC for possible backdating, and now finds itself dealing with a class action lawsuit alleging securities fraud.

The suit was filed on Monday by Richard L. Smith in the U.S. District Court of Minnesota on behalf of all people who purchased the publicly traded securities of UNH between May 15, 2001 and May 10, 2006.

The suit alleges that CEO William McGuire, President Stephen Hemsley and...
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