UnitedHealth Settles for $69 Million in Landmark 401(k) Performance Lawsuit

UnitedHealth Group Inc., has agreed to a settlement of $69 million after facing a lawsuit that accused the health insurance giant of including subpar investment choices in its employee 401(k) plan. This legal confrontation draws attention to the broader implications of employer responsibilities in managing retirement funds, emphasizing the critical need for vigilance and accountability in overseeing employee investments. The lawsuit, which underscored the potential detriments of poor fund performance on employees’ retirement savings, argued that UnitedHealth failed to remove or replace underperforming investments. The settlement serves a dual function: it compensates affected employees and … Read more

Inside Trading and Legal Battles: Top UnitedHealth Executives Face Allegations Amid DOJ Investigations

MINNEAPOLIS, Minn. — A series of lawsuits implicating insider trading practices at UnitedHealth Group have emerged, with allegations pinpointing the actions of senior executives amid ongoing investigations by the Department of Justice. At the center of these lawsuits, filed between May and August in Minnesota, are Stephen Hemsley, the board chair of UnitedHealth, and Brian Thompson, the former CEO of UnitedHealthcare. The legal action initiated by the City of Hollywood Firefighters Pension Fund claims the executives capitalized on confidential information to benefit personally through the sale of significant amounts of company shares. According to court … Read more