Wednesday, July 02, 2008 — TODAY'S NEWS
CalPERS Reaches $895 Million Settlement With UnitedHealth
CalPERS was a lead plaintiff in the class-action lawsuit that centered on UnitedHealth's backdating of stock options to former CEO William McGuire. CalPERS argued that the practice caused its UnitedHealth stock holdings to lose millions of dollars in value. In addition to the payout, the settlement calls for changes to the insurer's corporate governance policies. Wall Street Journal et al.
