The group of investors alleged the company misled them by not adjusting its forecast after Brian Thompson was killed.

A group of investors sued UnitedHealthcare Group on Wednesday, accusing the company of misleading them after the killing of its CEO, Brian Thompson.

The class action lawsuit — filed in the Southern District of New York — accuses the health insurance company of not initially adjusting their 2025 net earning outlook to factor in how Thompson’s killing would affect their operations.

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The group, which is seeking unspecified damages, argued that the public backlash prevented the company from pursuing “the aggressive, anti-consumer tactics that it would need to achieve” its earnings goals.

  • mspencer712@programming.dev
    40·
    21 hours ago

    Fucking legends, if it’s more like “let’s make their anti-consumer tactics a material part of the suit and get internal communications in discovery.”

    But you’re probably right.

    • FuglyDuck@lemmy.worldEnglish
      7·
      21 hours ago

      they don’t seem to be concerned about the policies themselves, just that scrutiny means they can’t pursue those and because of that they can’t meet the forecasts.

      FTA:

      The investors described this as “materially false and misleading,” pointing to the immense public scrutiny the company and the broader health insurance industry experienced in the wake of Thompson’s killing.

      The group, which is seeking unspecified damages, argued that the public backlash prevented the company from pursuing “the aggressive, anti-consumer tactics that it would need to achieve” its earnings goals.

      “As such, the Company was deliberately reckless in doubling down on its previously issued guidance,” the suit reads.

      The company eventually revised its 2025 outlook on April 17, citing a needed shift in corporate strategy — a move that caused its stock to drop more than 22% that day.

      “The company denies any allegations of wrongdoing and intends to defend the matter vigorously,” a UnitedHealthcare spokesperson said in a statement.

      Thompson’s fatal shooting on the streets of New York City in broad daylight sent shockwaves across the nation.

      Luigi Mangione, the 27-year-old man accused of the killing, has pleaded not guilty to federal and state charges against him. The legal defense fund for Mangione surpassed the $1 million mark in donations on Tuesday.