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
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: