Brian Thompson, the CEO of UnitedHealthcare, who was fatally shot in Midtown Manhattan on Wednesday in what New York police called a “brazen, targeted attack,” was a longtime leader in Corporate America, a model student and star high school athlete – and he had been caught up in a high-profile insider trading lawsuit this year.
Thompson, 50, lived in Minnesota and was visiting New York for UnitedHealthcare’s annual investors conference before he was killed.
Thompson was appointed chief executive of UnitedHealthcare in 2021 and had been at the company since 2004. Prior to being named chief executive of UnitedHealthcare, Thompson worked as CEO of the company’s government programs business, which includes its Medicare and retirement businesses. UnitedHealthcare is part of UnitedHealth Group, America’s largest insurance company.
Prior to joining UnitedHealthcare in 2004, Thompson worked as a manager and practiced as a CPA at PwC for nearly 7 years.
Thompson graduated from the University of Iowa in 1997 with a bachelor’s degree in business administration with a major in accounting. He graduated as valedictorian, according to his LinkedIn. He was a Collegiate Scholar, Carver Scholar, State of Iowa Scholar and Faculty Scholar.
Thompson graduated from South Hamilton High School in Jewell, Iowa, in 1993. Thompson was the valedictorian of his class, Heather Holm, the superintendent for South Hamilton Community School District, told CNN.
“During his time at South Hamilton, Brian was a star student, athlete, homecoming king, and a respected leader. His achievements and character left a meaningful legacy within our schools and community,” Holm said in a statement. “We join all who are mourning in remembering Brian’s life and legacy.”
Thompson is remembered as a beloved leader and friend, according to UnitedHealth Group. “Brian was a highly respected colleague and friend to all who worked with him,” the company said in a statement.
Allegations of fraud
Thompson in May was sued for alleged fraud and illegal insider trading. The Hollywood Firefighters’ Pension Fund filed a lawsuit against UnitedHealth Group, CEO Andrew Witty, Executive Chairman Stephen Hemsley and Thompson, alleging the executives schemed to inflate the company’s stock by failing to disclose a US Justice Department antitrust investigation into the company.
UnitedHealth Group in 2021 announced it would buy Change Healthcare. The Justice Department sued to break up the deal but a judge ultimately allowed it go through. But the Wall Street Journal in February 2024 reported the Department of Justice re-opened its case, even after the merger went through, to investigate whether the companies properly set up a so-called firewall to prevent customer information from flowing between divisions of the merged company.
The lawsuit claimed Thompson knew about the investigation as early as October 2023 and sold 31% of his company shares, making a $15 million profit, 11 days before the Journal publicized the probe. The Journal report sent UnitedHealth’s stock sinking 5%.
The revelation of the alleged insider trading led Democratic Senators Elizabeth Warren and Ed Markey to write a letter to the Securities and Exchange Commission on April 29, calling on Chairman Gary Gensler to investigate UnitedHealth for the executives’ stock sales. The senators noted Thompson faced up to $5 million in penalties and 20 years of prison time if convicted.
“The reports regarding these trades reveal a disturbing fact pattern,” the senators wrote. “The timing of these trades… raises numerous questions.”
The lawsuit, which remains active, was seeking a jury trial and unspecified damages from UnitedHealth and the executives named in the suit, including Thompson.
The Southern District of New York declined to comment. UnitedHealthcare did not respond to a request for comment on the lawsuit.
Thompson is survived by his wife Paulette and two children.
Tim Wentworth, the CEO of Walgreens Boots Alliance, a healthcare and retail company, wrote on LinkedIn that the healthcare industry was shocked and “deeply saddened to learn of the tragic, unthinkable news.”
“I have long respected Brian as a dedicated leader, and our thoughts and prayers are with the countless people who knew him on this incredibly difficult day,” Wentworth said.
CNN’s Kara Scannell contributed to this report.
