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UnitedHealth Group Statement on Securities and Exchange Commission Settlement

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  Published in Health and Fitness on Monday, December 22nd 2008 at 14:09 GMT, Last Modified on 2008-12-22 14:09:51 by Market Wire
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MINNEAPOLIS--([ BUSINESS WIRE ])--UnitedHealth Group (NYSE: UNH) today issued the following statement regarding a settlement with the Securities and Exchange Commission (SEC) in connection with the previously disclosed investigation into the Company's historical stock option practices.

"UnitedHealth Group is pleased to have resolved this matter with the SEC and will continue to focus on serving its customers, growing its businesses, reinforcing its community and customer relationships and helping people live healthier lives. Over the past two years, the Company has substantially improved its governance, administrative processes and internal controls, helping it become one of the top ranked companies in both the health care industry and the S&P 500 for overall corporate governance."

The Commission declined to charge the company with fraud or seek a monetary penalty, pointing to the company's "extraordinary cooperation in the Commission's investigation, as well as its extensive remedial measures."

Without admitting or denying the SEC's allegations, UnitedHealth Group has agreed to a permanent injunction against any future violations of certain reporting, books and records and internal accounting control provisions of the federal securities laws. This settlement is subject to approval by the U.S. District Court for the District of Minnesota and concludes the SEC's investigation of this matter with respect to UnitedHealth Group.

About UnitedHealth Group

UnitedHealth Group is a diversified health and well-being company dedicated to making health care work better. Headquartered in Minneapolis, Minn., UnitedHealth Group offers a broad spectrum of products and services through six operating businesses: UnitedHealthcare, Ovations, AmeriChoice, OptumHealth, Ingenix and Prescription Solutions. Through its family of businesses, UnitedHealth Group serves more than 70 millions individuals nationwide. Visit [ www.unitedhealthgroup.com ] for more information.