, /PRNewswire/ -- Edelson Lechtzin LLP, a leading class action law firm, is investigating breach of fiduciary duty claims on behalf of shareholders of UnitedHealth Group Incorporated (NYSE: ) between , and , inclusive (the "Relevant Period"). If you have substantial losses on your UNH investment or possess non-public information concerning breaches of fiduciary duties by company insiders, please contact Edelson Lechtzin LLP at , by e-mail at , or online . UnitedHealth operates UnitedHealthcare and Optum.
Optum provides technology-enabled services to the healthcare market, while UnitedHealthcare offers health insurance to individuals, employers, and small businesses in . On , UnitedHealth announced that its Optum segment would acquire Change Healthcare, a company that provides data solutions to improve clinical decision-making and simplify healthcare payment processes. Both Optum and Change Healthcare have access to highly sensitive healthcare data.
Despite numerous assurances to the investors and the DOJ, it is that there was never a meaningful firewall to protect customer data. Following the merger announcement, on , the U.S.
Department of Justice ("DOJ") filed a lawsuit seeking to block UnitedHealth from completing this acquisition on the grounds that the proposed business combination would violate antitrust laws. Specifically, the DOJ that a merger between Optim and Change Healthcare would give United Health unparalleled access to sensitive patient information. In , the DOJ lost at trial and the Change Healthcare acquisition was allowed to proceed.
On , The Wall Street Journal reported that the DOJ had reopened its antitrust investigation into UnitedHealth's acquisition of Change Healthcare. This time, however, the DOJ focused on insider stock sales of more than before news about the Change Healthcare merger became public. On news of the DOJ's renewed investigation, the price of UnitedHealth stock dropped 12%, from a closing price of per share on , to close at per share on .
UnitedHealth's stock continued to decline, to close at per share on , more than lower than the price on . EDELSON LECHTZIN LLP 411 S. State Street, Suite N-300 18940 Phone: 844-696-7492 or 215-867-2399 ext.
1 Email: Email: Web: Edelson Lechtzin LLP is a leading class action law firm with offices in and . In addition to cases involving securities and investment , our lawyers focus on class and collective litigation in cases alleging violations of the federal antitrust laws, employee benefit plans under ERISA, wage theft and unpaid overtime, consumer , and dangerous and defective drugs and medical devices. This press release may be considered Attorney Advertising in some jurisdictions.
No class has been certified in this case, so you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point.
Your ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. SOURCE Edelson Lechtzin LLP.
