|  | | 2008 News and Press Releases | | |
SETTLEMENT NEWS:
CalPERS Stock-Options Suit Versus UnitedHealth Group Granted Class-Action Status
Fran Lysiak
BestWire Services. March 19, 2008
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EXCERPT: A federal judge in Minnesota has given class-action status to a lawsuit against UnitedHealth Group Inc. filed by the California Public Employees' Retirement System over the health insurer's past stock-option grant practices. In the order, U.S. Chief District Judge James M. Rosenbaum certified the class as anyone who bought or otherwise acquired UnitedHealth Group's publicly traded securities between Jan. 20, 2005, and May 17, 2006, including those buyers who also held UnitedHealth stock during the 2002, 2003, 2004 , 2005 and 2006 UnitedHealth proxy solicitations and those who acquired UnitedHealth's stock in or related to its Dec. 20, 2005, merger with PacifiCare Health Systems. The judge named CalPERS, the largest U.S. public pension fund, as well as the Plumbing and Pipefitting Industry Pension Trust, as representatives of the class. |
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