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If It’s Worth Doing, It’s Worth Doing...Twice?
suedunnell wrote: Hi Again - I should add my name to comment #1 above and ask that if anyone has questions, they can either post them here or ask me directly: Sue Dunnell PowerBuilder Product Manager 978 287 1752 sue.dunnell@sybase.com
Jul. 3, 2009 03:52 PM EDT
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From the Wires
Stull, Stull & Brody Reports on Progress of 401(k) Breach of Fiduciary Duty Class Action Against UnitedHealth Group Inc.
Stull, Stull & Brody Reports on Progress of 401(k) Breach of Fiduciary Duty Class Action Against UnitedHealth Group Inc.

By: Marketwire .
Jan. 2, 2007 06:53 PM

NEW YORK, NY -- (MARKET WIRE) -- 01/02/07 -- Stull, Stull & Brody has reported on the progress of the 401(k) breach of fiduciary duty class action against UnitedHealth Group Inc. (NYSE: UNH), which has been brought on behalf of participants in UnitedHealth Group Inc.'s 401(k) defined contribution retirement plan (the UnitedHealth Group Inc. 401(k) Savings Plan, or the "Plan") for whose individual accounts the Plan purchased and/or held shares of UnitedHealth Group Inc. common stock at any time from December 21, 2005 through May 24, 2006, inclusive.

The case, which has been assigned No. 06-CV-2237 (JNR/SRM) and is pending in the United States District Court for the District of Minnesota, alleges that UnitedHealth Group Inc. and other Plan fiduciaries concealed from Plan participants important information concerning (i) long-standing, improper practices at the Company relating to executive stock options, including those awarded to former CEO William McGuire and current CEO Stephen Hemsley, and (ii) whether UnitedHealth Group Inc. common stock was a prudent and suitable retirement investment for the Plan.

After receiving from the Company certain documentation relating to the Plan Stull, Stull & Brody filed an Amended Class Action Complaint for Violations of ERISA, which is the current pleading in the case. UnitedHealth Group and the other defendants named in the Amended Complaint have indicated that they intend to move to dismiss the case, and that their dismissal motion will be filed in early 2007. Stull, Stull & Brody intends to vigorously oppose any motion to dismiss the case. Stull, Stull & Brody also intends to ask the Court to certify the case as proper class action.

If you are a participant in the UnitedHealth Group Inc. 401(k) Savings Plan or are, or think you may be, a member of the proposed class defined above, you may, if you wish, obtain additional information about the class action by contacting Stull, Stull & Brody. There is no cost or obligation.

The contact information for Stull, Stull & Brody is as follows:

Email: Email Contact
Fax: (212) 490-2022
Toll Free Number: 1-800-337-4983
Edwin J. Mills, Esq./ ext. 112

Mail:
Stull, Stull & Brody
6 East 45th Street
New York, NY 10017

Published Jan. 2, 2007
Copyright © 2007 SYS-CON Media, Inc. — All Rights Reserved.
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