UnitedHealth, DOJ
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UnitedHealth shares tumbled Thursday after the health insurance giant confirmed that it’s the subject of a Department of Justice investigation. Monitor these key chart levels.
UnitedHealth Group confirmed Thursday the company is facing criminal and civil investigations from the Department of Justice (DOJ) related to its Medicare billing practices. The health care giant said in a securities filing and subsequent statement it has begun complying with formal criminal and civil requests.
UnitedHealth Group says it is cooperating with federal criminal and civil investigations involving its market-leading Medicare business.
UnitedHealth Group confirmed Thursday that the U.S. Department of Justice is investigating how it bills for its Medicare Advantage plans.
In a filing with the Securities and Exchange Commission, United Health Group said it has "full confidence" in its practices. It added that a court-appointed monitor found no wrongdoing after a decade-long probe into its Medicare Advantage business.
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Stocks were mixed Thursday and the Dow Jones Industrial Average declined following slumps in Honeywell and IBM after the companies issued quarterly earnings updates and as UnitedHealth Group traded lower after saying it was “complying with formal criminal and civil requests” from the U.S. Department of Justice.