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This is an F tier, rage bait blog post.
It doesn’t even link to the actual lawsuit, just a CBS article about hre lawsuit that does not contain any of the “quotes” that it uses.
It’s a group of investors, including BlackRock amongst numerous others, who are suing United Health Care for issuing their financial report in the wake of the killing that said ‘business as usual, this won’t effect profits’.
The lawsuit isn’t about United providing more care, it’s about the fact that United should have known that they would have to increase the level of care provided in the wake of the killing and the media attention surrounding it.
i.e. investors would not be suing if:
- United was already providing adequate care and didn’t need to change their behaviour in the wake of the killing.
- United acknowledged that they were providing substandard care and adjusted their quarterly earnings forecast to be lower knowing that they would have to spend more.
The lawsuit is about a corporation lying on their earnings forecast, not about whether their earnings should be more or less.
Okay, if you go to the sources of the article, you can see that UH got sued because they did not amend their forecast after the shooting. They said that their response to the shooting would not impact earnings. BR would have had no grounds to sue, if UH said that they could not reach their earnings targets.
To quote Yahoo: “UnitedHealth Group was sued on 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.”
Thank you for doing the hard work!
This context makes a lot note sense than whatever brain dead “journalist” decided to headline the article with.
UH clearly under estimated its position.
So who luigies those in charge of Blackrock?
found the cop
Fed*
same difference
I don’t see how the lawsuit is connected to blackrock. The medium article made that up if you check their source it says nothing about that.
The lawsuit is a class action with a guy who held 10 shares since 2021. Some investors expected the stock to decline in response to the CEO death as the company would make changes and those investors would have maybe even held a short position because of it. But United health intentionally didn’t inform investors of it’s plans to pay out more for several months. They released official documents knowingly telling investors one plan when internally executives were pivoting. The lawsuit asserts this is a violation of the securities act of 1933 section 10b. This is about United misleading investors.
I’m really looking for the link to blackrock but I don’t see it.
Alright. The comment section here is 🔥
People tdid their DD, critical analysis etc
Means while: https://sh.itjust.works/post/38766119
People don’t really care about the truth they just want to be outraged when their own bias is confirmed.
Doesn’t help that articles are lying outright. But you know that’s how these shitrags get their ad clicks… Through rage bait.
No doubt!
Hence why it is even more beautiful when the comment section comes with the heavy dose of reality. I doubt anybody here is less pro Luigi but people are just keeping the facts straight!
Who ever let finance bros be in charge of our world should be taken out back. There is only money to these people, nothing else. Why do we listen to them? They have no understanding of what makes our world actually tick, only how to turn everything into a money equation. This is mental illness and the source of all our woes in this age of technological advancement. Get them gone from society, let’s treat these leaches like the sick, gross perverts they are.
Let’s start talking about a maximum wage if minimum wage is so important to them.
