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If you purchased shares of UnitedHealth Group Inc (NYSE:UNH) and currently hold any of those NYSE:UNH share, you have certain options and you should contact the Shareholders Foundation, Inc.
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To have your information reviewed for options and to receive notifications about this investigation, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Investigation Overview
November 2, 2016 (Shareholders Foundation) - An investigation on behalf of current long-term investors in shares of UnitedHealth Group Inc (NYSE:UNH) was announced over potential breaches of fiduciary duties by certain officers and directors at UnitedHealth Group.
The investigation by a law firm concerns whether certain UnitedHealth Group Inc (NYSE:UNH officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
Recently as consumer class action lawsuit was filed against UnitedHealth Group, Inc., United Healthcare Services, Inc., UnitedHealthcare of Alabama, Inc., and OptumRX, Inc.
According to the complaint the defendants are health insurance companies along with pharmacy benefit managers, that are retained by the health insurance companies, on behalf of the plan or third-party payors, to provide the pharmacy benefits to plan members, which includes, inter alia, establishing a formulary of drugs that will be covered, a network of pharmacies that will serve as participating pharmacies for plan participants to obtain their prescriptions, copayment amounts, coinsurance amounts, and deductibles.
According to the complaint the Defendants allegedly engaging in a scheme to defraud plan members by artificially inflating the copayment of medically necessary prescription drugs well above the cost of the drug.
The plaintiff alleges that certain plan participants pay inflated copayments to participating pharmacies in exchange for receiving their prescription drugs and that unbeknownst to the plan participants, Defendants allegedly artificially inflate the purported costs of the prescription drugs in the form of increased copayments and then claw back, or recoup, from the pharmacies a large portion of the copayments.
UnitedHealth Group Inc reported that its annual Total Revenue rose from over $130.47 billion in 2014 to over $157.1 billion in 2015 and that its respective Net Income increased from over $5.61 billion to over $5.81 billion.
Shares of UnitedHealth Group Inc (NYSE:UNH) grew from $71.36 per share in February 2014 to as high as $146.36 per share in October 2016.
