UnitedHealth probed by DoJ for potential Medicare fraud; shares slide - report

UnitedHealth Group (NYSE:UNH) is under investigation by the Department of Justice for potential Medicare fraud. The probe is centered around the insurer's Medicare Advantage business, The Wall Street Journal reported. UnitedHealth shares are down ~8% in after-hours trading Wednesday evening. The healthcare-fraud unit at DoJ is spearheading the investigation. That division investigates transgressions such as kickbacks that lead to higher Medicare and Medicare payments, the newspaper noted. The probe is the latest headache for the health insurance giant, which just had an unexpected CEO change on Tuesday. Earlier this month, a group of shareholders sued the company alleging it hid...