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Federal Contractor Misconduct Database (FCMD)

The federal government routinely awards contracts to companies with histories of misconduct, including contract fraud and other violations. POGO believes that providing this website will help to improve contracting decisions and increase public knowledge of how the government spends billions of taxpayer dollars each year. Read more…

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
Securities
Enforcement Agency
Non-Governmental
Contracting Party
None
Court Type
Civil
Disposition
Settlement
Date of Settlement Announcement
7/2/2008
Contractors Involved Penalty
Total
UnitedHealth Group $895,000,000
Further Information Released
CalPERS Press Release 7/2/2008

See also:

Federal Contractor Misconduct Database