Defendant Name: Health Net, Inc.

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

Document Reference: 34-78590

Document Details

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

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
Monetary Penalties:

Civil Penalty

Individual:     $340,000.00 Shared:    

Related Documents:

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."