Comment on BlackRock is Suing UnitedHealth for Giving “Too Much Care” to Patients After the CEO was Murdered

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cypherpunks@lemmy.ml ⁨1⁩ ⁨week⁩ ago

Which part of it is fake?

Here is an excerpt of the CNBC article about it:

On Dec. 3 — a day before Thompson was fatally shot — the company issued guidance that included net earnings of $28.15 to $28.65 per share and adjusted net earnings of $29.50 to $30.00 per share, the suit notes. And on January 16, the company announced that it was sticking with its old forecast.

The investors described this as “materially false and misleading,” pointing to the immense public scrutiny the company and the broader health insurance industry experienced in the wake of Thompson’s killing.

The group, which is seeking unspecified damages, argued that the public backlash prevented the company from pursuing “the aggressive, anti-consumer tactics that it would need to achieve” its earnings goals.

“As such, the Company was deliberately reckless in doubling down on its previously issued guidance,” the suit reads.

The company eventually revised its 2025 outlook on April 17, citing a needed shift in corporate strategy — a move that caused its stock to drop more than 22% that day.

The Medium post’s headline is not entirely false but its framing is sensationalist clickbait and misleads the reader: “BlackRock is Suing UnitedHealth for Giving “Too Much Care” to Patients After the CEO was Murdered” gives the incorrect impression that this lawsuit is demanding UnitedHealth go back to providing less care, but in fact the lawsuit appears to condemn their “anti-consumer tactics” while demanding damages from their “materially false and misleading” statement in January.

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