Former UnitedHealth CEO William McGuire to pay $30 million to end CalPERS suit
Thursday, September 11, 2008 - 02:07
in Mathematics & Economics
The agreement to pay shareholders satisfies a class-action complaint that grew out of a 2006 options-backdating scandal. It comes on top of a separate $895-million settlement by the insurer. The former chief executive of health insurance giant UnitedHealth Group Inc. agreed to personally pay $30 million to shareholders and give up stock-option rights to settle a class-action lawsuit led by the California Public Employees' Retirement System.