NEW YORK, May 7 (Reuters) - UnitedHealth Group (UNH.N) , opens new tab was sued on Wednesday for allegedly concealing how backlash from the killing of a top executive was damaging its business, causing its stock to nosedive after the insurer lowered its 2025 outlook.
In a proposed class action filed in Manhattan federal court, shareholders said the insurer defrauded them after the December 4 shooting of UnitedHealthcare Chief Executive Brian Thompson by shifting away from strategies that led to higher-than-average claims denials, without revealing the impact on profitability.
This is the actual reason why it is capitalism and not any individual players that must be ultimately held at fault. Even if every company from now on acted in the best interests of humanity/ workers, they’d be sued for failing to produce the amount of profits required by shareholders. They literally have to act like unrepentant sociopaths for them to stay in business.