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Former and current employees of Marsh & McLennan may have lost millions when the company invested the employees' retirement money in company stock without disclosing questionable company business practices.
Investigation Source (Case #04-c-8157 SWK)
- Nationwide
Investigation Scope
Category Information
Investigation Topics
- Loss of Retirement Asset
- Investment Advisor Duties
Product or Service
- Retirement Plan
Injury Type
- Monetary Loss
Investigation Details
Investigation and pending class action lawsuit against Marsh & McLennan on behalf of participants in the Marsh & McLennan Companies Stock Investment Plan
The class action lawsuit alleges violations of the federal pension law (ERISA) in connection with the loss of value in Marsh & McLennan stock acquired and held by present and former employees through the Plan.
The goal of these lawsuits is to restore losses in Marsh & McLennan stock suffered by the Plan and the accounts of employees in the Plan.
The class action lawsuits allege that the fiduciaries of the Marsh & McLennan Companies Stock Investment Plan violated their fiduciary duties by investing Plan assets in Marsh & McLennan stock from November 1, 1998 to the present, during which time Marsh & McLennan failed to disclose harmful business practices. Specifically, Marsh failed to disclose that a substantial portion of their income was based on "contingent commissions" whereby the Company would be paid to steer business to those that paid said commission and away from those that chose not to. As a result, Marsh & McLennan's stock may have traded at artificially inflated prices, as demonstrated by the decline in the stock price following the disclosure of these practices.
If you are a current or former employee of Marsh & McLennan Companies, Inc. or a subsidiary who acquired Marsh & McLennan stock through the Marsh & McLennan Companies Stock Investment Plan between November 1, 1998 and the present, and you are interested in recovering losses or if you or if you have information which might assist us in the investigation of these allegations or the individuals responsible for the management of this Plan, please contact us.
The class action lawsuit alleges violations of the federal pension law (ERISA) in connection with the loss of value in Marsh & McLennan stock acquired and held by present and former employees through the Plan.
The goal of these lawsuits is to restore losses in Marsh & McLennan stock suffered by the Plan and the accounts of employees in the Plan.
The class action lawsuits allege that the fiduciaries of the Marsh & McLennan Companies Stock Investment Plan violated their fiduciary duties by investing Plan assets in Marsh & McLennan stock from November 1, 1998 to the present, during which time Marsh & McLennan failed to disclose harmful business practices. Specifically, Marsh failed to disclose that a substantial portion of their income was based on "contingent commissions" whereby the Company would be paid to steer business to those that paid said commission and away from those that chose not to. As a result, Marsh & McLennan's stock may have traded at artificially inflated prices, as demonstrated by the decline in the stock price following the disclosure of these practices.
If you are a current or former employee of Marsh & McLennan Companies, Inc. or a subsidiary who acquired Marsh & McLennan stock through the Marsh & McLennan Companies Stock Investment Plan between November 1, 1998 and the present, and you are interested in recovering losses or if you or if you have information which might assist us in the investigation of these allegations or the individuals responsible for the management of this Plan, please contact us.
Defendant Details
| Name (Stock Symbol) | Brief Description |
|---|---|
| Marsh & McLennan Companies, Inc. (MMC) | Marsh & McLennan Companies, Inc., a professional services company, provides advice and solutions in the areas of risk, strategy, and human capital. |