Request Legal Help Now - Free
LAWSUITS NEWS & LEGAL INFORMATION

Stock Options

San Francisco, CA: (Dec-06-07) A special litigation committee, an independent body comprising of two former Minnesota Supreme Court justices, was put in charge of reviewing claims relating to UnitedHealth Group Inc.'s stock option practices. In a recent development, company officials announced that the committee has reached settlement agreements on behalf of the company with certain former executives, including ex-Chief Executive William McGuire.

As part of the agreement, McGuire will have to relinquish a total in excess of $600 million through the repricing and surrendering of stock options and other benefits. Sources stated that McGuire will surrender options to acquire about 9.22 million shares of the company's stock, which the committee valued at $320 million. Further, he also agreed to surrender both his interest in the company's supplemental executive retirement plan, valued at about $91 million, and the approximately $8 million in his executive savings plan account. [CNN NEWS: STOCK OPTIONS]


Legal Help

If you have a similar problem and would like to be contacted by a lawyer at no cost or obligation, please click the link below.
Published on Dec-7-07


ADD YOUR COMMENT ON THIS ISSUE

Fields marked * are mandatory. Please read our comment guidelines before posting.

*Name:

Note: Your name will be published with your comment.

*Email Address:

Your email will only be used if a response is needed.
*Your Comment:

Are you the defendant or a subject matter expert on this topic with an opposing viewpoint? We'd love to hear your comments here as well, or if you'd like to contact us for an interview please submit your details here.
Request Legal Help Now! - Free