Business

737 readers

144 users here now

A place to share business news and insights.

Rules

Follow lemmy.world rules
Only post content related to business
Do not use this community to promote your business

founded 2 years ago

MODERATORS

odrel@lemmy.world

jordanlund@lemmy.world

UnitedHealth sued by shareholders over its reaction to backlash from executive's killing (www.reuters.com)

submitted 1 day ago by ByteOnBikes@slrpnk.net to c/business@lemmy.world

5 comments fedilink hide all child comments

NEW YORK, May 7 (Reuters) - UnitedHealth Group (UNH.N) , opens new tab was sued on Wednesday for allegedly concealing how backlash from the killing of a top executive was damaging its business, causing its stock to nosedive after the insurer lowered its 2025 outlook.

In a proposed class action filed in Manhattan federal court, shareholders said the insurer defrauded them after the December 4 shooting of UnitedHealthcare Chief Executive Brian Thompson by shifting away from strategies that led to higher-than-average claims denials, without revealing the impact on profitability.

you are viewing a single comment's thread
view the rest of the comments

[–] Maeve@kbin.earth 22 points 1 day ago (1 children)

These people are vile.

[–] chuckleslord@lemmy.world 9 points 1 day ago

This is the actual reason why it is capitalism and not any individual players that must be ultimately held at fault. Even if every company from now on acted in the best interests of humanity/ workers, they'd be sued for failing to produce the amount of profits required by shareholders. They literally have to act like unrepentant sociopaths for them to stay in business.