UnitedHealth, stephen hemsley and CEO Andrew Witty
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UnitedHealth Group announced a dramatic shakeup, with former CEO and current chairman Stephen Hemsley stepping back into the top job following the abrupt resignation of Andrew Witty. Witty, who led UnitedHealth since 2021,
UnitedHealth Group (NYSE:UNH) is under investigation by the Department of Justice for potential Medicare fraud. The probe is centered around the insurer's Medicare Advantage business, The Wall Street Journal reported.
A stock slide and investigations will put Stephen Hemsley’s credibility with investors to the test.
UnitedHealth shares fell 22% on April 17, wiping out about $119 billion of market value, after the insurer cut its 2025 forecast.
A group of investors this week filed a proposed class-action lawsuit against UnitedHealth Group, alleging that the company withheld information following the murder of UnitedHealthcare CEO Brian Thompson last December.
The lawsuit, which seeks class action status, alleges that UnitedHealth and its executives didn’t properly warn investors about how the killing of UnitedHealthcare CEO Brian Thompson would affect its business.