Grant & Eisenhofer secured $922 million — the largest derivative settlement in U.S. history — in UnitedHealth options-backdating case
Plaintiff(s):
Three public pension funds as lead plaintiffs
Case type / claims:
Shareholder derivative and class action alleging breach of fiduciary duty and unjust enrichment arising from the backdating of $1.2 billion in stock options to UnitedHealth’s CEO and other executives.
Defendant(s):
UnitedHealth Group Incorporated and William McGuire, CEO
Jurisdiction:
U.S. District Court for the District of Minnesota
Outcome:
- $922 million settlement, the largest derivative settlement ever achieved in any jurisdiction, resolving claims that executives manipulated stock option grant dates for personal gain.
- The case became a defining precedent in executive compensation accountability and corporate governance reform related to options backdating.
