Luigi Mangione

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UnitedHealthcare sued by shareholders over reaction to CEO's killing (www.cnbc.com)

submitted 2 days ago by Five@slrpnk.net to c/luigimangione@lemmy.world

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[–] TachyonTele@lemm.ee 52 points 2 days ago (3 children)

Shareholders are some sick souless vampires. Jesus Christ.

[–] halcyoncmdr@lemmy.world 48 points 2 days ago (4 children)

I'm not sure it's that simple in this particular case..

The group, which is seeking unspecified damages, argued that the public backlash prevented the company from pursuing “the aggressive, anti-consumer tactics that it would need to achieve” its earnings goals.

That specific wording makes me think these particular shareholders are actually on the right side and taking advantage of the fact UHC is a piece of shit company to both profit and make a point.

[–] ecvanalog@lemmy.world 4 points 1 day ago

That is 100% how it reads to me.

[–] Philharmonic3@lemmy.world 3 points 1 day ago

You're correct. Read point 37 in the lawsuit. Link to the document. It makes it clear they are accusing UHC of deliberately denying insurance claims to boost profits and lying to shareholders about it.

[–] bizarroland@fedia.io 27 points 2 days ago (1 children)

That's interesting, because if they win, then they're basically saying that they were able to do the ghoulish practices that made them money, and they just didn't make enough money off of it, whereas if they lose, then everyone knows that they committed ghoulish practices in order to make profit off of sick and ailing Americans.

[–] ecvanalog@lemmy.world 3 points 1 day ago

Remember that UGC is in a bunch of index and retirement funds where individual stockholders don’t choose what they get. There are plenty of UHC shareholders who probably hate it.

Source: I hold UHC stock as part of my Paramount retirement account

[–] TachyonTele@lemm.ee 10 points 2 days ago

Interesting. That may be a good point.

[–] gravitas_deficiency@sh.itjust.works 10 points 2 days ago

Uh, I think what the lawsuit is saying is “the board is fucking stupid for not understanding the groundswell of extremely hostile public opinion rising against them, and accounting for that in their targets”. Which is honestly a perfectly reasonable take imo, and not even particularly that soulless, because they’re kinda calling out how soulless UHC leadership is.

[–] morgan_423@lemmy.world 2 points 2 days ago

Right? You know you're pretty morally horrendous if during a you vs. UHC matchup, we're all cheering for UHC.