UnitedHealth Chairman, Executives Sold Stock Before U.S. Probe Became Public, Bloomberg Reports

-- UnitedHealth Group Chairman Stephen Hemsley and three senior executives netted a combined $101.5 million from sales of company stock over four months leading up to when the public became aware of a federal antitrust investigation, Bloomberg News reports.

-- Bloomberg says sales of shares occurred between Oct. 16, a week after the health insurer reportedly received notice of a Justice Department probe, and Feb. 26, the day before the investigation was reported by numerous media outlets.

-- UnitedHealth hasn't explicitly acknowledged the probe and declined to say when Hemsley and the others were informed of it, Bloomberg reports, adding that when asked about the trades, a spokesperson said the directors and officers followed company protocols and received approval from the company.

Full article: https://www.bloomberg.com/news/articles/2024-04-11/unitedhealth-unh-executives-sold-stock-before-us-probe-became-public?

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

April 11, 2024 08:34 ET (12:34 GMT)

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