This excerpt taken from the UNH 8-K filed Jul 2, 2008.
Settlement of ERISA Litigation
On July 2, 2008, the Company also announced it has reached an agreement in principle to resolve the ERISA class action litigation that was originally filed on June 2, 2006 in the U.S. District Court in Minnesota against the Company and certain of its current and former officers and directors relating to its historical stock option practices. Under the terms of the proposed settlement, the Company will pay $17 million into a settlement fund for the benefit of class members, most of which will be paid by the Companys insurance carriers. The proposed settlement is subject to completion of final documentation and preliminary and final court approval.
The proposed settlement will fully resolve all claims against the Company and all of the individual defendants in the ERISA class action litigation. No parties admit any wrongdoing as part of the proposed settlement. The proposed settlement does not encompass, relate to or impact the related securities class action settlement discussed above.
A copy of the press release announcing the two proposed settlements is filed herewith as Exhibit 99.2 and incorporated herein by reference.