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Keyword: optionsbackdating

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  • UnitedHealth, SEC Settle With McGuire On Options Backdating (Is Donna Shalala in on the action?)

    12/07/2007 3:30:23 PM PST · by eartotheground · 5 replies · 581+ views
    Wall Street Journal ^ | December 7, 2007 | VANESSA FUHRMANS and JAMES BANDLER
    In one of the largest executive-pay givebacks in history, former UnitedHealth Group Inc. Chief Executive William McGuire has agreed to forfeit about $620 million in stock-option gains and retirement pay to settle civil and federal-government claims related to stock-option backdating. The settlement comes a year after the options-backdating scandal led to Dr. McGuire's ouster from the Minnetonka, Minn., company, one of the largest U.S. health insurers. -snip- In the scandal, dozens of companies pretended that options were granted at an earlier date than they actually were. They picked dates when the stock price was at a low point, allowing executives...