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Dorsey partners Peter Carter, Thomas Swigert, and Katie Pfeifer handled the case, along with associates Michelle Grant and Grethchen Agee.

Contact us if you experience any difficulty logging in.United Health also announced it would pay million to settle an unrelated ERISA class action litigation.Access to society journal content varies across our titles.Granting stock options to employees is a generally accepted and perfectly legal form of compensating employees. Critics of backdating argue that the practice is difficult to detect and thus encourages boards and executives to use it to synthesize more creative compensation packages.In our example, backdating the options is the same as giving John Doe a check for ,000 -- without recording that ,000 on the within two business days.Robbins led a Coughlin Stoia team that included partners Michael Dowd, Andrew Brown, Ramzi Abadou, Arthur Leahy, and Anne Box.United Health was represented by teams from Dorsey & Whitney, lead counsel, as well as O'Melveny & Myers.and the purchasers of the stock were harmed as a result of purchasing their shares at artificial prices because of this misrepresentation," says Robbins.According to the complaint, United Health's stock price fell from a high of .61 per share in December 2005 to a low of .09 per share on May 24, 2006 amid newspaper reports of options backdating as well a subpoena from the United States Attorney for the Southern District of New York.For instance, if the board meeting is on January 3, 2012, and Company XYZ stock closes at per share that day, then the exercise price of John's 2012 stock are backdated, then his exercise price is only per share.He pays the per share exercise price and can turn around and sell those shares on the exchange for each, netting a profit of per share, or ,000.


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