Why UnitedHealth Stock Is Crashing This Week
Shares of UnitedHealth Group (NYSE: UNH) are plummeting this week. The company's stock is down 27.4% as of 12:29 p.m. ET. The collapse comes as the S 500 (SNPINDEX: ^GSPC) gained 4.7% and the Nasdaq-100 gained 6.4%.
It was reported this week that the troubled health insurance giant is facing a criminal investigation from the Department of Justice (DOJ). The report came just days after its CEO stepped down unexpectedly and the company pulled its full-year earnings guidance.
The Wall Street Journal reported late Wednesday that the DOJ's Health Care Fraud Unit is conducting a criminal investigation into the company for possible Medicare fraud. According to the report, the investigation has been ongoing since at least last summer.
Source Fool.com
