Friday, December 19, 2008

Judge grants preliminary OK to $900 million-plus settlement of UnitedHealth options lawsuit

Posted by Plus Master at 8:12 AM
 

A federal judge on Thursday gave preliminary approval to a $900 million-plus settlement that resolves a lawsuit pitting UnitedHealth Group shareholders against the insurer over its stock options.

Minnetonka, Minn.-based UnitedHealth has agreed to pay $895 million to settle the class-action case. Former UnitedHealth Chairman and Chief Executive William McGuire also agreed to pay $30 million toward the settlement and to return stock options representing more than 3 million shares.
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