UnitedHealth ex-CEO Gives Up $468 Million

Former UnitedHealth Group Inc. Chairman and CEO, William McGuire has agreed to surrender more than $400 million to settle a lawsuit related to a stock options backdating scandal, the company and the Securities and Exchange Commission announced on Thursday. McGuire, who stepped down a year ago as the highest profile corporate chief caught in the probe, will give up $320 million in stock options and forgo more than $99 million in other retirement and executive savings benefits, according to the Minneapolis-based company. In a statement, the Securities and Exchange Commission valued the settlement at $468 million. The SEC said McGuire did not admit or deny guilt.