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Examples of improper, fraudulent backdating: However, not all backdating involves fabrication.Backdating can also involve the practice of dating a document on the date the event occurred even if it is not signed until later. He also owns Minnesota United FC, Minnesota's professional soccer team. (born 1948) is an American pulmonologist, lepidopterist, philanthropist, and healthcare executive, best known for his tenure as chairman and chief executive officer of United Health Group from 1991 until his resignation in 2006.
Marc Ward Although backdating can be either legitimate or improper, it is often misunderstood and associated with wrongdoing.
The backdating was approved by the board of directors, according to the Journal.
Several shareholder classes filed lawsuits accusing former United Health's directors of failing in their fiduciary duty to properly notify shareholders of the scheme.
Mc Guire joined United Healthcare in November 1988 as an executive vice president when the Peak Health Plan, of which he was then president and chief operating officer, was acquired by United.
In May 1989, he was appointed to the board of directors and became chief operating officer of United.