UnitedHealthcare CEO Brian Thompson was tragically gunned down outside a Manhattan hotel, becoming the face of a federal antitrust probe into the company. Thompson, along with other senior executives, sold over $100 million in stock before news of the investigation was made public, leading to a steep drop in the stock price. This revelation raised suspicions of insider trading.
Thompson’s stock sale took place just two weeks before news of the probe broke, with the investigation focusing on whether UnitedHealthcare had violated antitrust laws through market consolidation. The company had already faced a significant data breach earlier in the year, compromising private data of millions of Americans.
The suspect in Thompson’s murder has been identified as police continue their investigation. The company ultimately paid a $22 million ransom to hackers following the data breach, and their estimated financial loss reached around $705 million.
The stock sales by Thompson and other executives were closely monitored by the company’s general counsel, but questions remain about whether additional disclosures were required. The sudden and unexpected death of Thompson, a respected leader in the industry, has left many shocked and demanding answers. The investigation into his murder continues as the company navigates the fallout from these troubling events.
Source
Photo credit nypost.com