A federal judge in Minnesota has allowed part of a securities lawsuit against UnitedHealth Group to move forward, ruling Sept. 30 that the nation's largest public pension fund may pursue claims that the company misled investors about 2024 transactions that added $3.3 billion to its earnings. The California Public Employees' Retirement System (CalPERS) alleges the deals were used to hide weakness in UnitedHealth's Medicare Advantage business. None of the claims have been proven, and UnitedHealth denies wrongdoing.
U.S. District Judge Jeffrey Bryan dismissed most of the case, according to STAT. Of 48 alleged false statements, claims tied to 43 were dismissed, including those relating to upcoding and insider trading, Bloomberg reported. Claims tied to five statements about the 2024 transactions survived.
