UnitedHealth Confirms SEC Probe

UnitedHealth (UNH Quote) said in a regulatory filing that the Securities and Exchange Commission is looking into its stock option granting practices.

The Minnetonka, Minn., health insurer said in a quarterly filing with regulators that the informal inquiry comes as UnitedHealth and its board conduct probes of their own. The board named a special panel to look into the matter last month after The Wall Street Journal reported that top execs may have benefited from possible backdating of some options grants. The paper also reported that CEO William McGuire had been granted unexercised options worth $1.6 billion as of the end of 2005.

UnitedHealth has previously said it received a call from the SEC on the stock option matter but hasn't said what was discussed.

UnitedHealth said in Tuesday's filing that both the company and the special committee continue to investigate the matter and that they haven't reached any final conclusions. But the company warned that a restatement of previous financial results could be necessary.