Largest financial recovery for backdating case made with UnitedHealth

State Treasurer Denise L. Nappier and Attorney General Richard Blumenthal announced agreements today that will return more than $887 million to UnitedHealth Group Inc. The negotiations stem from an investigation into backdating of stock options at the company. Click here to read more.
UnitedHealth’s former chairman and CEO Dr. William McGuire will return $420 million to the company and is among other employees involved in the investigation. The former Secretary and General Counsel David Lubben has agreed to repay $25 million and current CEO James Hemsley will return $50 million. Connecticut Retirement Plans and Trust Funds is a lead plaintiff in the lawsuit case brought on behalf of UnitedHealth shareholders. Connecticut Retirement Plans and Trust Funds has also asserted class action claims in litigation and the financial agreements with former UnitedHealth employees will not end shareholder action against the company.