UnitedHealth Earnings Lawsuit Moves Forward Amid Medicare Advantage Allegations
A federal judge has allowed an investor lawsuit against UnitedHealth Group to move forward after declining the company's motion to dismiss allegations that it artificially inflated its earnings by $3.3 billion in 2024.
The suit claims UnitedHealth concealed weakness in its Medicare Advantage business and made patients appear sicker on paper to receive more government funding.
CalPERS, a California pension fund, filed the lawsuit, but most of its allegations were dismissed by U.S. District Judge Jeffrey Bryan due to lack of specificity or being deemed typical 'puffery' that investors wouldn't act on.