UnitedHealth Group has asked a federal court to block hedge fund Whitebox Advisors' claim that UnitedHealth has defaulted on some of its bonds. According to a court filing, if the company is in default, it would have to pay back $850 million in bonds 30 years early. Whitebox is claiming that UnitedHealth is in default because it missed a filing deadline with the SEC. UnitedHealth is sifting through accounting problems because it granted stock options that it now acknowledges were probably backdated.
November 02, 2006 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
UnitedHealth Group Inc. asked a federal court to block a hedge fund’s claim that it has defaulted on some of its bonds.
If UnitedHealth was found to be in default, it would have to pay back $850 million in bonds 30 years early, according to the court filing.
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