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Thursday, December 06, 2007

Anything wrong with this?

UnitedHealth Group CEO Bill McGuire. (MPR Photo/Jeff Horwich)

Pulled this from today's NYTimes:
Former UnitedHealth Chief to Forfeit Over $400 Million
Published: December 6, 2007

NEW YORK (Reuters) - The former chief executive of UnitedHealth Group Inc will forfeit more than $400 million worth of stock options and retirement benefits under a settlement following a probe into the health insurer's options practices, the company said on Thursday.

Under the settlement, former CEO William McGuire will forfeit options valued at about $320 million as well as $91 million in retirement plan benefits, plus an additional $8 million in retirement savings.

Settlement agreements also were reached with former general counsel David Lubben, and former director William Spears, the company said.

(Reporting by Martha Graybow and Lewis Krauskopf; Editing by Gary Hill)
“Poverty wants much; but avarice, everything”
-- Publilius Syrus (Roman author, 1st century B.C.)

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