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Who was Brian Thompson, the CEO of UnitedHealthcare fatally shot in Manhattan?
This is interesting i had not heard anything about this.
https://www.kcci.com/article/who-was-brian-thompson-unitedhealthcare-ceo-shot-murdered-new-york/63134599
Recent allegations of fraud
Thompson in May was sued for alleged fraud and illegal insider trading. The Hollywood Firefighters' Pension Fund filed a lawsuit against UnitedHealth Group, CEO Andrew Witty, Executive Chairman Stephen Hemsley and Thompson, alleging the executives schemed to inflate the company's stock by failing to disclose a U.S. Justice Department antitrust investigation into the company.
UnitedHealth Group in 2021 announced it would buy Change Healthcare. The Justice Department sued to break up the deal but a judge ultimately allowed it go through. But the Wall Street Journal in February 2024 reported the Department of Justice re-opened its case, even after the merger went through, to investigate whether the companies properly set up a so-called firewall to prevent customer information from flowing between divisions of the merged company.
The lawsuit claimed Thompson knew about the investigation as early as October 2023 and sold 31% of his company shares, making a $15 million profit, 11 days before the Journal publicized the probe. The Journal report sent UnitedHealth's stock sinking 5%.
The revelation of the alleged insider trading led Democratic Sens. Elizabeth Warren and Ed Markey to write a letter to the Securities and Exchange Commission on April 29, calling on Chairman Gary Gensler to investigate UnitedHealth for the executives' stock sales. The senators noted Thompson faced up to $5 million in penalties and 20 years of prison time if convicted.
"The reports regarding these trades reveal a disturbing fact pattern," the senators wrote. "The timing of these trades… raises numerous questions."
Thompson in May was sued for alleged fraud and illegal insider trading. The Hollywood Firefighters' Pension Fund filed a lawsuit against UnitedHealth Group, CEO Andrew Witty, Executive Chairman Stephen Hemsley and Thompson, alleging the executives schemed to inflate the company's stock by failing to disclose a U.S. Justice Department antitrust investigation into the company.
UnitedHealth Group in 2021 announced it would buy Change Healthcare. The Justice Department sued to break up the deal but a judge ultimately allowed it go through. But the Wall Street Journal in February 2024 reported the Department of Justice re-opened its case, even after the merger went through, to investigate whether the companies properly set up a so-called firewall to prevent customer information from flowing between divisions of the merged company.
The lawsuit claimed Thompson knew about the investigation as early as October 2023 and sold 31% of his company shares, making a $15 million profit, 11 days before the Journal publicized the probe. The Journal report sent UnitedHealth's stock sinking 5%.
The revelation of the alleged insider trading led Democratic Sens. Elizabeth Warren and Ed Markey to write a letter to the Securities and Exchange Commission on April 29, calling on Chairman Gary Gensler to investigate UnitedHealth for the executives' stock sales. The senators noted Thompson faced up to $5 million in penalties and 20 years of prison time if convicted.
"The reports regarding these trades reveal a disturbing fact pattern," the senators wrote. "The timing of these trades… raises numerous questions."
The lawsuit remains active.
1 replies
= new reply since forum marked as read
= new reply since forum marked as read
