UnitedHealth Chair, Executives Sold $102 Million in Stock Before US Probe Became Public
- News broke on Feb. 26 that the firm got DOJ notice in October
- Chairman, three executives sold shares between those dates
Photographer: Jonathan Alcorn/Bloomberg
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UnitedHealth Group Inc. Chairman Stephen Hemsley and three senior executives netted a combined $101.5 million from stock sales made over four months leading up to when the public became aware of a federal antitrust investigation.
The sales occurred between Oct. 16, a week after the largest health insurer in the US reportedly received notice of the Justice Department probe, and Feb. 26, the day before Bloomberg News and others published stories about the investigation. The stock dropped after the investigation was widely reported.