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Latham & Watkins, Llp
Dr. William McGuire Joins Settlement of UnitedHealth Group Federal Securities Class Action
September 28th, 2008
Former CEO and Chairman of UnitedHealth Group Corporation, William McGuire, M.D. has reached an agreement to settle the federal securities class action lawsuit in U.S. District Court in Minnesota led by the California Public Employee Retirement System (CalPERS). Under the terms of the settlement, which is subject to court approval, Dr. McGuire has agreed to pay $30 million into a fund for the benefit of the class. That sum will be added to the $895 million to be paid by UnitedHealth Group pursuant to the settlement agreement previously reached by the company and 16 other individual defendants. Dr. McGuire will also return to UnitedHealth a total of 3.675 million shares of stock options....
Source: Pharma Investments, Ventures & Law Weekly (2008-09-28)
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