Federal Contractor Misconduct Database (FCMD)
CalPERS et al. v. UnitedHealth Group (Stock Options Backdating)
UnitedHealth Group agreed to pay $895 million to settle a class-action lawsuit filed by the California Public Employees’ Retirement System (CalPERS) alleging stock options backdating. The lawsuit alleged discrepancies between UnitedHealth’s public statements about profits relating to stock option grants to executives due to a practice of allowing executives to set their stock purchase dates when share values were low, then selling them later when they were high.
- Misconduct Type
- Enforcement Agency
- Contracting Party
- Court Type
- Date of Settlement Announcement