William McLucas of Wilmer Culter Pickering Hale and Door and Aaron Marcu of Covington & Burling watched for two years as UnitedHealth Group sought to wriggle its way out of an options backdating scandal by opening its books to the government, repaying some cash and readjusting its balance sheet. In all, the company is finding ways to make up for about $1.8 billion in fraudulent gains.
“You’re doing this all blind,” says McLucas, the chairman of Wilmer’s securities division and the lawyer who headed up an internal investigation for an independent committee for UnitedHealth’s board. “You hope you’ll get some credit for it all in the end, but it’s never certain.”
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