UnitedHealthcare CEO in Manhattan Under Investigation by DOJ Shot and Killed
The recent tragic shooting of UnitedHealthcare CEO Brian Thompson in Manhattan has raised questions about his stock sales before a Department of Justice probe went public. According to a report from Crain’s New York Business, Thompson was one of several company executives who sold stock after an antitrust investigation was initiated but not yet disclosed.
Thompson, aged 50, was the victim of what police are calling a targeted shooting. In February, he sold $15.1 million worth of stock options just two weeks before the DOJ announced its investigation into the company’s acquisition plans. The DOJ, along with attorneys general from multiple states, filed a lawsuit to block UnitedHealth Group’s acquisition of Amedisys Inc, citing concerns about patient care quality and affordability.
Following the announcement of the probe, UnitedHealthcare’s stock prices took a hit. Thompson’s stock options were not due to expire for several years, making this sale his first since becoming CEO in 2021. Other executives, such as Chairman Stephen Hemsley, Chief People Officer Erin McSweeney, and Chief Accounting Officer Tom Roos, are also under investigation for selling $101.5 million in stock shares prior to the probe.
Unfortunately, 2024 has been a challenging year for UnitedHealth overall. In addition to Thompson’s tragic death and the antitrust probe, the parent company, UnitedHealth Group, also suffered a massive data breach earlier in the year. Nearly one-third of Americans had their private information, including Social Security numbers, potentially exposed in the breach, which cost the company approximately $705 million.
As the search for Thompson’s killer continues, the company faces ongoing scrutiny and challenges. It will be interesting to see how UnitedHealth navigates these difficult circumstances going forward.
