UnitedHealth Group was sued Wednesday for allegedly concealing how backlash from the killing of a top executive was damaging its business, causing its stock to nosedive after the insurer lowered its 2025 outlook.
In a proposed class action filed in Manhattan federal court, shareholders said the insurer defrauded them after the Dec. 4 shooting of UnitedHealthcare Chief Executive Brian Thompson by shifting away from strategies that led to higher-than-average claims denials, without revealing the impact on profitability.
UnitedHealth shares fell 22% on April 17, wiping out about $119 billion of market value, after the insurer cut its 2025 forecast for adjusted profit per share to between $26 and $26.50 from between $29.50 and $30.
Suspect Luigi Mangione in custody in December. He has pleaded not guilty to murdering Brian Thompson in midtown Manhattan, and could face the death penalty.Getty Images
The insurer cited higher costs in its Medicare business. It had issued the old forecast one day before Thompson’s death.
Shareholders said UnitedHealth had previously inflated its stock price by recklessly sticking with its old forecast, even as mounting public anger and an Oct. 17 Senate report on claims denials caused it to become more patient-friendly.
UnitedHealth had no immediate comment. The insurer has offices in Eden Prairie, Minn., and Washington, DC.
Wednesday’s lawsuit seeks unspecified damages for UnitedHealth shareholders from between December 3, 2024 and April 16, 2025. Chief Executive Andrew Witty and Chief Financial Officer John Rex are also defendants.
Shareholders said UnitedHealth had previously inflated its stock price by recklessly sticking with its old forecast.REUTERS The case is Faller v UnitedHealth Group Inc et al, U.S. District Court, Southern District of New York, No. 25-03799.
New York Gov. Kathy Hochul and state lawmakers have reached a tentative agreement to issue so-called “inflation refund” checks to millions of residents.Erik Pendzich/Shutterstock
“This is targeted relief for middle- and working-class New Yorkers who need a little extra help,” a spokesperson for the budget division told Gothamist.
While final legislative text has yet to be made public, budget officials have outlined the eligibility criteria and payment structure expected to be included in the final plan, which lawmakers are scheduled to begin voting on later this week.
How to qualify
To qualify for the checks, residents must have filed a New York State income tax return for the 2023 tax year and have a state adjusted gross income (AGI) of $150,000 or less for individuals, or $300,000 or less for joint filers.
Those who earned more than those thresholds or were claimed as dependents are not eligible.
The size of the check will vary depending on income and filing status.
Individual filers earning $75,000 or less will receive $200, while those earning between $75,000.01 and $150,000 will receive $150.
Joint filers with an AGI below $150,000 will receive $400; couples earning between $150,000.01 and $300,000 will get $300.
Roughly 8.2 million tax filers are expected to qualify for the relief payments, which will cost the state approximately $2 billion.Christopher Sadowski
What to do to receive an ‘inflation refund’ check
Eligible recipients will not need to take any action to receive the payment.
The state Department of Taxation and Finance will automatically issue checks using data from 2023 tax returns already on file.
“The process is entirely automatic,” the spokesperson told Gothamist. “There’s no need to apply or submit additional forms — if you’re eligible, you’ll get a check in the mail.”
Officials say they are relying on 2023 tax data because it represents the most complete and up-to-date financial information available.
The measure is being framed as a way to help residents cope with the continued effects of inflation and the high cost of living across the state.Getty Images
Although Tax Day for 2024 was April 15, many filers received extensions, meaning the current year’s tax data remains incomplete.
When people can expect to receive their check
The state has not yet announced a specific timeline for when the payments will be mailed out, but a spokesperson for the Department of Taxation and Finance said the checks are likely to be sent in the fall.
The proposed inflation relief payments come amid broader budget negotiations that have been delayed for weeks.
While the refund plan has drawn praise from some lawmakers and advocacy groups, others have questioned whether a one-time check will do much to address deeper economic challenges in the state.
Still, for millions of New Yorkers, the extra cash could offer some welcome relief.
“This is money people can use to buy groceries, pay utility bills, or just get through the week,” the budget division spokesperson said.
The masked anti-Israel rabble-rousers whostormed Columbia University’s librarypassed out flyers lionizing alleged Palestinian terrorist Bassel al-Araj as a “militant intellectual,” The Post has learned.
The pamphlets were masterminded by the notorious radical activist organization Unity of Fields, sources told The Post.
Dozens of protesters were arrested.Obtained by NY Post
“Basil was an intellectual, a militant intellectual. In fact, he was so much so to the point where ‘The Militant Intellectual’ is always understood to refer to him specifically,” the booklet gushed, misspelling his name.
The Palestinian activist, who Israeli officials alleged was part of a terrorist cell planning to carry out attacks on Israeli targets, was killed by Israel Defense Forces in a 2017 raid in the West Bank.
During Wednesday’s chaos at the Ivy League school, the mob of protesters also draped a large sign bearing the alleged terrorist’s name over bookshelves.
Unity of Fields, formerly known as Palestine Action US, is the same group behind the twisted anarchist how-to guide that started circulating among Columbia students earlier this year.
That “underground manual” offered a step-by-step guide on how to sow chaos and destruction — including the need to buy sledgehammers with cash and consider blocking a targeted building’s pipes with concrete “for a messy surprise.”
Masked protesters are taken away by police.Christopher Sadowski
Meanwhile, roughly 80 agitators were arrested during Wednesday’s disorder — as the elite school faced yet another chaotic day on its Morningside Heights campus.
Footage obtained by The Post showed the unruly demonstrators defacing the library walls, hanging Palestinian flags and marking tables with colored tape as they chanted and beat drums.
Two school safety officers were injured in the ordeal, sources said.
