UnitedHealth falls on report it secretly paid nursing homes to reduce hospital transfers

UnitedHealth falls on report it secretly paid nursing homes to reduce hospital transfers The allegations add to the negatives that have hurt UnitedHealth, following a cyberattack at its Change Healthcare unit, reports of criminal and civil probes on company's practices and the departure of CEO Andrew Witty, who resigned, opens new tab as director on Wednesday. Shares have stumbled all year, losing more than 39%, compared with a 0.6% decrease for the Dow.

UnitedHealth said in response that "the U.S. Department of Justice investigated these allegations, interviewed witnesses, and obtained thousands of documents that demonstrated the significant factual inaccuracies in the allegations." The company said the DoJ declined to pursue the matter after reviewing all the evidence during its multi-year investigation.