News Headlines Article

UnitedHealth sues California over $173M fine
Los Angeles Business Journal

UnitedHealth Group Inc. on Thursday sued California, saying the state’s insurance commissioner abused his power when he issued a $173 million fine against the insurer for a troubled acquisition nearly a decade ago.

The Los Angeles Times has a report on the lawsuit, as well as the backstory that led up to it.

And there’s a lot of backstory. This case goes back to UnitedHealth’s (NYSE: UNH) multibillion-dollar purchase of Cypress’ PacifiCare in 2005.