Dorsey partners Peter Carter, Thomas Swigert, and Katie Pfeifer handled the case, along with associates Michelle Grant and Grethchen Agee.O'Melveny partners Charles Bachman, Lizzie Baird, Brian Boyle, Thomas Donilon, Jeffrey Kilduff, Abby Rudzin, Bill Sushon, and Gary Svirsky, counsel Allen Burton, Mark Germann, and Ken Murata, and associates Brad Elias, Adam Rubin, David Sack, and Daniel Shamah represented United Health.Although accounting issues concerning stock options grants are complex, the documents and testimony plaintiffs acquired during discovery established a strong case regarding liability.Regardless, plaintiffs faced significant legal hurdles to show loss causation – that the actions of defendants were responsible for causing the stock losses – as well as damages. [y]ou are certainly free to try to change my mind.” A combination of novel legal argument, defendants’ own documents, and testimony did just that.Lead plaintiff Cal PERS had 6.7 million shares of United Health Group in December of 2006 when the consolidated complaint was filed in Minnesota; it currently holds 4.9 million shares valued at 7 million."The arguments of Cal PERS was that there were in fact a series of misrepresentations…"Cal PERS is a very thoughtful and contemplative lead plaintiff, and carefully selects the cases in which it seeks to serve as lead plaintiff," says Darren Robbins, founding partner of Coughlin Stoia Geller Rudman & Robbins, who represented the plaintiffs.
Noel cautioned plaintiffs’ counsel, “I think I [previously] . With a court order requiring United Health to produce documents defendants considered to be work product, and the knowledge that devastating information would be made available for all the world to see, plaintiffs gave defendants no choice but to come to the bargaining table and resolve the case.
Robbins led a Coughlin Stoia team that included partners Michael Dowd, Andrew Brown, Ramzi Abadou, Arthur Leahy, and Anne Box.
United Health was represented by teams from Dorsey & Whitney, lead counsel, as well as O'Melveny & Myers.
After being selected as lead plaintiff, Cal PERS filed a consolidated complaint in December 2006. Rosenbaum denied defendants’ motions to dismiss the consolidated complaint in their entirety, and compared defendants’ scheme to the movie During the discovery process, Robbins Geller attorneys carefully scoured more than 22 million pages of documents obtained from defendants, as well as hundreds of thousands of additional documents from more than 15 third parties.
The team delved into the company’s documents and internal correspondence, uncovering United Health’s pervasive options backdating scheme.