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Settlement requires defendant to pay CalPERS $30 million

The Sacramento Bee, September 11, 2008

William McGuire, former CEO of UnitedHealth Group Inc., will pay $30 million to the California Public Employees' Retirement System in the settlement of a class-action lawsuit. McGuire had been accused of illegally backdating his purchases of UnitedHealth stocks. In addition, the settlement prohibits him from purchasing another 3.675 million shares of the company's stock.