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UnitedHealth Strikes Deal With SEC Over Backdating

Law360 (December 29, 2008, 12:00 AM EST) -- After reaching a massive deal with shareholders, UnitedHealth Group Inc. has agreed to settle an action by the U.S. Securities and Exchange Commission over an alleged scam to backdate more than $1 billion in stock option grants to senior executives.

The SEC said Dec. 22 that the Minnesota-based health insurer and its former general counsel, David J. Lubben, had entered into separate settlement agreements without admitting or denying the agency's allegations.

UnitedHealth avoided a fine and did not face fraud charges because it had cooperated with...
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