UnitedHealth raises considerations over Invoice Ackman’s submit on X with SEC

(Reuters) – UnitedHealth has reached out to the U.S. Securities and Change Fee about billionaire investor Invoice Ackman’s now-deleted submit on social media platform X that stated he would take a brief place within the healthcare conglomerate.

WHY IT’S IMPORTANT

“If I nonetheless shorted shares, I’d brief United Healthcare,” Ackman stated in his submit, referring to the corporate’s medical health insurance unit.

The investor additionally stated the corporate’s income are doubtless overstated on account of its protection selections.

MARKET REACTION

UnitedHealth’s shares fell about 1.5% in afternoon commerce after Ackman’s submit.

KEY QUOTE

“Any claims that well being insurers, which generally have low- to mid-single digit margins, can someway over-earn are grossly uninformed in regards to the construction and robust regulatory oversight of the sector,” a UnitedHealth spokesperson stated.

The SEC declined to remark.

(Reporting by Christy Santhosh in Bengaluru)