Moore seeks divestment from health insurers


NEW YORK -- "Sicko" director Michael Moore will hold a Wall Street press conference Thursday afternoon calling for all investors, including pension funds and the U.S. government, to divest from publicly traded health insurance companies.

The filmmaker/activist will be joined by members of the California Nurses Assn./National Nurses Organizing Committee outside Federal Hall to make his announcement and promote his Weinstein Co./Lionsgate release, which opens nationally Friday after a New York bow and sneak previews last weekend.

A statement released by event organizers presented the reasoning behind Moore's agenda. "Publicly traded health insurance companies have a particular conflict between providing care and paying policyholders' claims, and their fiduciary responsibility for generating higher revenues and profits for their shareholders, which they accomplish by limiting payments and denying needed medical care," the statement said. "Investors can send a strong message to the entire healthcare industry by re-examining their investment options now to promote an overhaul of our healthcare system."

The press conference will be held at 3:15 p.m. at 26 Wall Street in Manhattan.