These people are vile.
this post was submitted on 08 May 2025
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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.
without revealing the impact on profitability
I think this is the real issue. Perhaps they lied about expected profitability going forward, and that's a big no-no for publicly traded companies.
Shareholders said UnitedHealth had previously inflated its stock price by recklessly sticking with its old forecast, even as mounting public anger and an October 17 U.S. Senate report, opens new tab on claims denials caused it to become more patient-friendly.
The suit isn't that they didn't stick to their old strategy, but that they presented false forecasts about what impact the change would have.
Exactly. Their continued investment was based on them killing as many customers as possible. They lied about the financial impact and would have divested if they realised saving people's lives wasn't going to make them as much money.
Well if it worked for the executive class maybe it will work for the shareholder class too.