08:11 AM EDT, 04/11/2024 (MT Newswires) -- (Updates with additional details.)

UnitedHealth Group ( UNH ) Chairman Stephen Hemsley and three senior executives sold $101.5 million worth of stock in the four months before a federal antitrust investigation became public knowledge, Bloomberg reported Thursday.

The sales took place between Oct. 16 and Feb. 26, the report added.

The company is facing an investigation from the US Department of Justice whether its acquisitions have consolidated its position in a way that breaches antitrust practices, the report said, citing a person familiar with the probe.

A spokesperson for the company told Bloomberg that the directors and officers "followed our protocols and received approval from the company" about the trades.

UnitedHealth ( UNH ) did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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