In what is likely to be a windfall for a top California plaintiffs firm, UnitedHealth Group announced it would pay a whopping $895 million to settle a securities class action over stock option backdating.
Coughlin Stoia Geller Rudman & Robbins represents the California Public Employees’ Retirement System, which Minnesota federal judge James Rosenbaum appointed as lead plaintiff in April. The settlement amount dwarfs a recent $160 million Brocade deal, which until Wednesday had been the previous backdating record holder.
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