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However, the national scrutiny this week came amid news that the SEC is investigating whether Mc Guire and the board broke any laws.

The Minnesota attorney general also has jumped into a shareholder suit seeking to get to the bottom of the matter.

He also owns Minnesota United FC, Minnesota's professional soccer team.

In May 1989, he was appointed to the board of directors and became chief operating officer of United.

Despite two company-ordered investigations that largely exonerated Hemsley from the backdating scandal, the latest filing in U. District Court in Minneapolis attempts to paint a different portrait of Hemsley and the corporate practice of providing top executives with favorably priced option grants.

"Hemsley personally offered backdated options to new hires, was required to approve all grants in excess of 5,000 shares [and] approved backdated mass grants," asserts the brief in the lawsuit that has the California Public Employees' Retirement System (Cal PERS) as lead plaintiff.

The shareholders contend that there were real losses, in part because the backdated options were not properly accounted for and resulted in 12 years of restated financial results for United Health.

The pretax effect of those adjustments was a cumulative downward restatement of earnings by

In May 1989, he was appointed to the board of directors and became chief operating officer of United.

Despite two company-ordered investigations that largely exonerated Hemsley from the backdating scandal, the latest filing in U. District Court in Minneapolis attempts to paint a different portrait of Hemsley and the corporate practice of providing top executives with favorably priced option grants.

"Hemsley personally offered backdated options to new hires, was required to approve all grants in excess of 5,000 shares [and] approved backdated mass grants," asserts the brief in the lawsuit that has the California Public Employees' Retirement System (Cal PERS) as lead plaintiff.

The shareholders contend that there were real losses, in part because the backdated options were not properly accounted for and resulted in 12 years of restated financial results for United Health.

The pretax effect of those adjustments was a cumulative downward restatement of earnings by $1.56 billion.

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In May 1989, he was appointed to the board of directors and became chief operating officer of United.Despite two company-ordered investigations that largely exonerated Hemsley from the backdating scandal, the latest filing in U. District Court in Minneapolis attempts to paint a different portrait of Hemsley and the corporate practice of providing top executives with favorably priced option grants."Hemsley personally offered backdated options to new hires, was required to approve all grants in excess of 5,000 shares [and] approved backdated mass grants," asserts the brief in the lawsuit that has the California Public Employees' Retirement System (Cal PERS) as lead plaintiff.The shareholders contend that there were real losses, in part because the backdated options were not properly accounted for and resulted in 12 years of restated financial results for United Health.The pretax effect of those adjustments was a cumulative downward restatement of earnings by $1.56 billion.

.56 billion.




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