Involves backdating

In 2006, the Securities and Exchange Commission began investigating the conduct of United Health's management and directors, including Mc Guire, as did the Internal Revenue Service and prosecutors in the United States Attorneys' office for the Southern District of New York.The investigations came to light after a series of probing stories in the Wall Street Journal in May 2006, discussing the apparent "backdating" of stock options, in a then-common process called options backdating.Backdating encompasses a broad scope of conduct ranging from blatant fraud to the legitimate and common practice of executing a document after the event has already occurred.This article provides a brief overview of how to distinguish legitimate backdating from improper backdating.Examples of legitimate memorialization: Simply put, if a document is dated before the occurrence of an event, the backdating is fabricated and improper.On the other hand, if the document is executed after the event has occurred but accurately reflects the date of the event, the backdating is a proper memorialization.He attended college at the University of Texas at Austin and medical school at the University of Texas Medical Branch at Galveston, Texas.

Marc Ward Although backdating can be either legitimate or improper, it is often misunderstood and associated with wrongdoing.The backdating was approved by the board of directors, according to the Journal.Several shareholder classes filed lawsuits accusing former United Health's directors of failing in their fiduciary duty to properly notify shareholders of the scheme.Mc Guire joined United Healthcare in November 1988 as an executive vice president when the Peak Health Plan, of which he was then president and chief operating officer, was acquired by United.In May 1989, he was appointed to the board of directors and became chief operating officer of United.

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