Backdating derivative

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Weiser successfully prosecuted backdating cases, which caused the subject corporations to cumulatively receive tens of millions of dollars in benefits. Weiser launched a wave of actions that challenged the executive compensation awarded at the nation’s largest banks, which received federal “bailout” funds.

Shareholder derivative action filed on behalf of Plaintiffs the St.

In the Order granting final approval, the Court found that the case was "zealously contested," yet the parties "managed the case efficiently, particularly in light of its novelty and complexity." December 19, 2008 - Court Grants Preliminary Approval of Settlement in United Health On December 19, 2008, the Court granted preliminary approval of the settlement.

December 6, 2007 - BLB&G and Pension Fund Clients Recover Over 0 million BLB&G announced the recovery of over 0 million on behalf of its clients in United Health Group Inc. Background May 18, 2006 - Derivative Lawsuit Filed Against Officers and Directors of United Health Group, Inc. May 18, 2006 - Public Pension Funds Filed Motion To Enjoin United Health's CEO and COO from Exercising Illegal Options.

July 1, 2009 - Court Grants Final Approval of Settlement in United Health The final settlement approval hearing took place on February 13, 2009, and the Court approved the settlement on July 1, 2009.

The action arises from defendants' obtaining, approving, and/or acquiescing in the issuance of stock options to senior executives that were unlawfully backdated to provide the recipients with windfall compensation at the direct expense of United Health.

The lower the strike price, the greater the potential for making money when exercising the options.

Take this example, from The Wall Street Journal, which began investigating the practice last fall: "Suppose an executive gets 100,000 options on a day when the stock is at .

A stock option gives the recipient the right to purchase stock at a set price.

That exercise price, or strike price, usually takes one of three forms: the closing price on the day of the grant; an average of the highs and lows of the day; or the closing price from the previous day.

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