If you suffered losses exceeding $100,000 investing in UnitedHealth stock or options between March 14, 2022 and February 27, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/UNH.
NEW YORK, July 04, 2024 (GLOBE NEWSWIRE) — Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against UnitedHealth Group Incorporated (“UnitedHealth” or the “Company”) (NYSE: UNH) and reminds investors of the July 15, 2024 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) UnitedHealth never established proper firewalls between Optum and UnitedHealthcare as required by its own policy, and as it told the court in the antitrust action, the DOJ and investors it would do; (2) Firewalls were never properly created for certain business applications; (3) Despite assurances to the contrary, there was never a meaningful technological separation between Optum and UnitedHealthcare that prevented the sharing of customer sensitive information; and (4) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
On February 27, 2024, The Wall Street Journal reported that the U.S. Department of Justice (“DOJ”) had launched an investigation into UnitedHealth, examining relationships between the Company’s UnitedHealthcare insurance unit and its Optum health-services arm, which owns physician groups, among other assets.
On this news, UnitedHealth’s stock price fell $27.04, or 5.1%, over two consecutive trading days, to close at $498.28 per share on February 28, 2024, thereby injuring investors.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding UnitedHealth’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
To learn more about the UnitedHealth class action, go to www.faruqilaw.com/UNH or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
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