Nevada Attorney General Catherine Cortez Masto has fined UnitedHealth Group $1 million for antitrust violations in its acquisition of Fiserv, Inc.'s insurance customers in the state, according to a Wall Street Journal report.
In 2008, the Attorney General's office approved UnitedHealth's bid to take over Sierra Health Services under the condition it wouldn't acquire Fiserv Nevada. The Attorney General determined at that time UnitedHealth's acquisition of both local insurers could inhibit competition, according to the report.
Atty. Gen. Masto alleged UnitedHealth instead acquired all but one of Fiserv Nevada's active customers through a series "assignments," according to the report.
UnitedHealth argued its actions did not violate a court order prohibiting its control of Fiserv but is " pleased to have resolved the matter," according to the report
Read the Wall Street Journal report on UnitedHealth.
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In 2008, the Attorney General's office approved UnitedHealth's bid to take over Sierra Health Services under the condition it wouldn't acquire Fiserv Nevada. The Attorney General determined at that time UnitedHealth's acquisition of both local insurers could inhibit competition, according to the report.
Atty. Gen. Masto alleged UnitedHealth instead acquired all but one of Fiserv Nevada's active customers through a series "assignments," according to the report.
UnitedHealth argued its actions did not violate a court order prohibiting its control of Fiserv but is " pleased to have resolved the matter," according to the report
Read the Wall Street Journal report on UnitedHealth.
Related Articles on UnitedHealth:
UnitedHealth Group's Earnings Up 13%