UnitedHealth Settles

UnitedHealth Group, Inc. (NYSE: UNH), a Minnesota-based diversified health and well-being company, has announced the preliminary settlement of the securities class action pending against it in the D. of Minn. The case, originally filed in 2006, stems from allegations that UnitedHealth misrepresented and omitted material facts regarding its stock options backdating practices.

The settlement is for $895 million and will fully resolve all claims against the company and its current officers and directors. The WSJ Law Blog has a post on the settlement and notes that it is by far the largest options backdating class action settlement to date.

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