The Department of Justice was in the middle of investigating Brian Thompson, the UnitedHealthcare CEO who was fatally shot on December 4. These major new details arrive after an unidentified gunman shot the CEO in the chest outside of a Manhattan hotel early Wednesday morning.
Videos by Wide Open Country
According to Crain's New York Business in April, Thompson exercised some stock options just two weeks before news broke on the DOJ's federal antitrust investigation. These were $15.1 million worth of shares he sold on February 16, 2024.
Thompson Probed For Insider Trading Before Death
Suspicions arose of possible insider trading since the stock price tanked after the news went public. It also involved three others who also sold shares: A UnitedHealth Group Chairman, Stephen Helmsley, and two executives, Tom Roos and Erin McSweeney. In total, the four of them sold a combined amount of $101.5 million in stock shares.
Originally, the DOJ was probing the company on whether UnitedHealth's acquisitions had "consolidated its position in some markets in a way that violates antitrust laws." This was according to an anonymous source familiar with the probe who spoke with the outlet.
A spokesperson claimed that the company approved the trades. Officers and directors at UnitedHealth must first get clearance to trade their shares.
Also, trading times have limited windows. These windows are typically open after earnings reports. The previous report at the time was October 13, its third-quarter earnings report.
There are still many reasons why the outlet deemed these sold shares as suspicious. Thompson and McSweeney's stock options still had a while to go before their expirations. Also, this was the first year that Thompson sold any shares since he became CEO in 2021.
These major details arose eight months later due to Thompson's death, which authorities deemed to be a targeted attack. The gunman waited outside the CEO's hotel before he would leave for a conference.
Since the incident, much more information has come to light as well. Paulette, Thompson's wife, claimed her husband was receiving threats before his death.
Meanwhile, the authorities discovered words engraved on the shell casings and live rounds used by the suspect: "deny", "depose", and "defend."
