It appears that the late and unlamented UnitedHeathcare CEO Brian Thompson might have been murdered was a very bad boy.
By bad, I mean insider trading. He, along with fellow executives, sold massive amounts of UnitedHealcare stock before the revelation of a federal investigation:
………
In May the Hollywood Firefighters’ Pension Fund sued Thompson as well as UnitedHealth Group CEO Andrew Witty and executive chairman Stephen Hemsley, alleging they plotted to inflate the company stock by choosing not to disclose that the Justice Department was investigating the company for antitrust practices. According to the lawsuit, Thompson was allegedly aware of the investigation and sold 31% of his shares 11 days before the Wall Street Journal reported the probe in February, which sunk the company’s stock by 5%. Thompson allegedly netted $15 million from selling stock.
What a surprise, the CEO was a crook.
0 comments :
Post a Comment