Law360 (December 6, 2007, 12:00 AM EST) -- The embattled former chief executive of UnitedHealth Group Inc. agreed to give up over $800 million on Thursday to bury various charges that he took advantage of backdated stock options.
The $468 million that William McGuire, the company's former CEO and chairman, agreed to pay to resolve charges by the U.S. Securities and Exchange Commission is the largest sum the agency has every levied against an individual in an options backdating case.
McGuire will surrender another $320 million worth of UnitedHealth stock options to settle derivative lawsuits lodged in Minnesota federal and state courts against him and certain other current and...
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