This line...."The group, which seeks unspecified damages, argues that the public backlash prevented the company from pursuing 'the aggressive, anti-consumer tactics that it would need to achieve' its earnings goals." Wow....someone actually put that in a legal document? Read the room shareholders.....
With her years of experience working in the SDNY and the contacts I'm assuming she still has, I wonder if KFA knew about this upcoming litigation and that's why she included the quote about "the immoral and murderous healthcare industry that continues to terrorize the American people" in her statement regarding the death penalty directive. Of course, even without the UHC lawsuit, Americans are indeed terrorized daily by the insurance industry...
It's funny--a terrorism charge seems a better fit for UHC, doesn't it? I saw that quote and wondered about it all evening. This morning I woke up and thought: that language is intentional. "Anti-consumer tactics that it would need to achieve its earning goals" is Onion-type language. I wonder if this lawsuit was brought not by earnest investors who honestly believe this, but by shareholders who might happen to have UHC in, say, an employee 401K plan or a mutual fund or something, who are trying to make a statement about UHC's practices.
Yes indeed::prevented the company from pursuing the aggressive anti-consumer tactics" as if killing peeps sorry, "denying coverage" via spreadsheet is not enough to enhance "shareholder value."
DOJ was not successful and Change suffered an enormous cyberattack in 2023 which led to another DOK investigation.
From Snopes:
UnitedHealth was aware of the DOJ investigation since at least October 2023. Instead of disclosing this material investigation to investors or the public, UnitedHealth insiders sold more than $120 million of their personally held UnitedHealth shares. In the four months between learning about the DOJ investigation and the investigation becoming public, UnitedHealth's Chairman Stephen Hemsley sold over $102 million of his personally held UnitedHealth shares and Brian Thompson, the CEO of UnitedHealthcare, sold over $15 million of his personally held UnitedHealth shares.
And Hemsley, who allegedly committed a criminal act--$102 million is unimaginable wealth--at the expense of shareholders, is now at the helm of UnitedHealthcare? If I were a shareholder, I'd be apoplectic. It's amazing to watch these ruling class criminals continually being rewarded for their antisocial behavior.
Thought-provoking piece! I'm assuming you've seen this development: https://www.nbcnews.com/business/business-news/unitedhealthcare-sued-shareholders-reaction-ceos-killing-rcna205550.
This line...."The group, which seeks unspecified damages, argues that the public backlash prevented the company from pursuing 'the aggressive, anti-consumer tactics that it would need to achieve' its earnings goals." Wow....someone actually put that in a legal document? Read the room shareholders.....
With her years of experience working in the SDNY and the contacts I'm assuming she still has, I wonder if KFA knew about this upcoming litigation and that's why she included the quote about "the immoral and murderous healthcare industry that continues to terrorize the American people" in her statement regarding the death penalty directive. Of course, even without the UHC lawsuit, Americans are indeed terrorized daily by the insurance industry...
It's funny--a terrorism charge seems a better fit for UHC, doesn't it? I saw that quote and wondered about it all evening. This morning I woke up and thought: that language is intentional. "Anti-consumer tactics that it would need to achieve its earning goals" is Onion-type language. I wonder if this lawsuit was brought not by earnest investors who honestly believe this, but by shareholders who might happen to have UHC in, say, an employee 401K plan or a mutual fund or something, who are trying to make a statement about UHC's practices.
It's fascinating.
Yes indeed::prevented the company from pursuing the aggressive anti-consumer tactics" as if killing peeps sorry, "denying coverage" via spreadsheet is not enough to enhance "shareholder value."
Some history: United's Optum wanted to merge with Change and was blocked by DOJ: https://www.thebignewsletter.com/p/the-busy-bees-at-the-antitrust-division
DOJ was not successful and Change suffered an enormous cyberattack in 2023 which led to another DOK investigation.
From Snopes:
UnitedHealth was aware of the DOJ investigation since at least October 2023. Instead of disclosing this material investigation to investors or the public, UnitedHealth insiders sold more than $120 million of their personally held UnitedHealth shares. In the four months between learning about the DOJ investigation and the investigation becoming public, UnitedHealth's Chairman Stephen Hemsley sold over $102 million of his personally held UnitedHealth shares and Brian Thompson, the CEO of UnitedHealthcare, sold over $15 million of his personally held UnitedHealth shares.
https://www.snopes.com/fact-check/unitedhealthcare-ceo-testify-against-pelosi/
Seems to me BT would have had some 'splaining to do in front of his fellow shareholders, many who must have been pissed off!
And Hemsley, who allegedly committed a criminal act--$102 million is unimaginable wealth--at the expense of shareholders, is now at the helm of UnitedHealthcare? If I were a shareholder, I'd be apoplectic. It's amazing to watch these ruling class criminals continually being rewarded for their antisocial behavior.