Luigi Mangione

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BlackRock is Suing UnitedHealth for Giving “Too Much Care” to Patients After the CEO was Murdered (medium.com)

submitted 2 weeks ago by [email protected] to c/[email protected]

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[–] Album 7 points 2 weeks ago* (last edited 2 weeks ago)

I don't see how the lawsuit is connected to blackrock. The medium article made that up if you check their source it says nothing about that.

The lawsuit is a class action with a guy who held 10 shares since 2021. Some investors expected the stock to decline in response to the CEO death as the company would make changes and those investors would have maybe even held a short position because of it. But United health intentionally didn't inform investors of it's plans to pay out more for several months. They released official documents knowingly telling investors one plan when internally executives were pivoting. The lawsuit asserts this is a violation of the securities act of 1933 section 10b. This is about United misleading investors.

I'm really looking for the link to blackrock but I don't see it.