Firm Memoranda

SEC Settles Option Backdating Case with Former UnitedHealth CEO for $468 Million

Date: 12/14/07

On December 6, 2007, the Securities and Exchange Commission ("SEC") announced a $468 million settlement in an options backdating case against William W. McGuire, M.D., the former CEO and Chairman of UnitedHealth Group Inc. This was the first time Section 304 of the Sarbanes-Oxley Act ("SOX") has been used to deprive a corporate executive of his stock sale profits and bonuses earned while his company was misleading investors.

121407_SEC Settles Option Backdating Case.pdf (pdf | 29.77 KB )