Security Class Action Lawsuit Against UnitedHealth Group, Inc.
A class action lawsuit has been filed against UnitedHealth Group, Inc. (”UnitedHealth” or the “Company”) (NYSE:UNH) and certain officers in the U.S. District Court for the District of Minnesota on behalf of UnitedHealth securities purchasers during the period May 4, 2001 through April 7, 2006, inclusive (the “Class Period”), for securities law violations.
The complaint alleges that defendants made false and misleading statements and material omissions regarding the Company’s executive compensation practices, including the backdating of stock option grants. As a result, the price of the Company’s securities was inflated during the Class Period, thereby harming investors.
The lawsuit also charges that during the Class Period insiders sold their Company stock at artificially inflated prices, thereby reaping more than $484 million in proceeds.
If you purchased UnitedHealth securities during the Class Period and wish to serve as a lead plaintiff in the action, you must move the Court no later than July 7, 2006. Any purported class member may move the Court to serve as lead plaintiff through counsel of its choice, or may choose to do nothing and remain an absent class member. If you wish to discuss this action or have questions concerning this notice or your rights, please contact Scott+Scott (scottlaw@scott-scott.com, 800/404-7770, 860/537-5537) or visit the Scott+Scott website, www.scott-scott.com, for more information. There is no cost or fee to you.
Filed under Class Action, General Law
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