Universal Health Brass sued for stock gains amid pandemic

Law360 (July 12, 2021, 4:09 p.m. EDT) – An investor in Universal Health Services Inc. has filed a derivative lawsuit in the Delaware Chancery Court accusing company executives, including a prominent lawyer, of taking advantage of a pandemic-related drop in the company’s stock price to enrich itself unfairly through certain stock options.

In a lawsuit made public Friday, shareholder Robin Knight says officers and directors of the Pennsylvania-based hospital and health care company benefited from the grant of certain stock options that “were extremely unfair to the company and its shareholders “.

“Controllers and other company insiders have taken advantage of the temporary decline in the company’s stock price to …

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