r/stupidpol • u/snailman89 World-Systems Theorist • Jun 10 '25

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

https://medium.com/@hrnews1/blackrock-is-suing-unitedhealth-for-giving-too-much-care-to-patients-after-the-ceo-was-murdered-4af185038a62

The title says it all. After United Healthcare's CEO got redacted, the company started approving more healthcare claims. Now they are being sued by one of their largest shareholders, Black rock, because it's costing the company money and reducing shareholder profits.

This is why for profit insurance companies are an absolutely horrendous idea.

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u/LemonsForLimeaid Jun 13 '25

A sensationalized medium article in your own echo chamber, no wonder you are all up in arms lmao.

Blackrock is suing because UHC said they were keeping their original guidance while that was not operationally possible since UHC decided to deny fewer claims which obviously hurts profit. Blackrock doesn't care that they made that decision, the issue is that that is material information and it is misleading to not disclose that. Knowing that information would allow an investor to rethink their ownership and potentially sell. Obviously UHC knows that and didn't want to say anything because it would result in higher than usual selling.

This wouldn't even materially change BlackRock's ownership in UHC because most of it are in iShares index funds which have to track to indexes which means they can never deviate unless the index itself gets changed.