Defendant Name: Health Net, Inc.

Defendant Type: Public Company
SIC Code: 6324
CUSIP: 42222G10

Initial Case Details

Legal Case Name In the Matter of Health Net, Inc.
First Document Date 16-Aug-2016
Initial Filing Format Administrative Action
File Number 3-17396
Allegation Type Other

Violations Alleged

Other
• Rule 21F-17 Exchange Act

Resolutions

First Resolution Date 16-Aug-2016
Headline Total Penalty and Disgorgement $340,000

Related Documents:

34-78590 16-Aug-2016 Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
On August 16, 2016, the SEC issued a settled administrative proceedings against Health Net, Inc. The SEC found that Health Inc. directly targeted the SEC's whistleblower program by entering into voluntary severance agreements with employees who were leaving the company.
2016-164 16-Aug-2016 Press Release--Administrative Proceeding
Company Punished for Severance Agreements that Removed Financial Incentives for Whistleblowing
On August 16, 2016, the SEC announced that Health Net, Inc. "has agreed to pay a $340,000 penalty for illegally using severance agreements requiring outgoing employees to waive their ability to obtain monetary awards from the SEC's whistleblower program."