NEW YORK, May 7 (Reuters) - UnitedHealth Group (UNH.N) , opens new tab was sued on Wednesday for allegedly concealing how backlash from the killing of a top executive was damaging its business, causing its stock to nosedive after the insurer lowered its 2025 outlook.
In a proposed class action filed in Manhattan federal court, shareholders said the insurer defrauded them after the December 4 shooting of UnitedHealthcare Chief Executive Brian Thompson by shifting away from strategies that led to higher-than-average claims denials, without revealing the impact on profitability.
Exactly. Their continued investment was based on them killing as many customers as possible. They lied about the financial impact and would have divested if they realised saving people’s lives wasn’t going to make them as much money.