United Health Products receives proposed SEC settlement terms including $450K penalty

United Health Products, Inc.

SEC proposed settlement requires $450,000 civil penalty and permanent injunction against company.
Company would not admit or deny allegations, with restrictions on public statements.
Penalty payable in four installments over 270 days with statutory interest.
Company is predisposed to accept, pending clarification on injunctive relief and complaint draft.
Proposed settlement does not cover former CEO Douglas Beplate or former COO Louis Schiliro.

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