NEW YORK, Dec. 2, 2003 (PRIMEZONE) -- Kaplan Fox & Kilsheimer LLP (kaplanfox.com) filed a class action suit against Marsh & McLennan Companies, Inc. ("Marsh & McLennan" or the "Company") (NYSE:MMC) and certain of its officers and directors, in the United States District Court for the Southern District of New York. This suit is brought on behalf of all persons and entities, other than defendants, who purchased Marsh & McLennan common stock between January 3, 2000 and November 3, 2003, inclusive (the "Class Period").
The complaint alleges that defendants were engaged in an unlawful and deceitful course of conduct designed to improperly financially advantage defendants to the detriment of plaintiff and the other members of the Class. During the Class Period, defendants violated the federal securities laws by disseminating materially false and misleading information to the public concerning Putman Investments, LLC ("Putnam"), a Marsh & McLennan subsidiary. In clear breach of their disclosure obligations, defendants failed to disclose that Putnam allowed select favored customers, and its own fund managers, to engage in market timing (or rapid in-and-out trading) in certain Putnam mutual funds. It is alleged that defendants engaged in this wrongful activity in exchange for substantial fees and other income.
Plaintiff seeks to recover damages on behalf of the proposed Class and is represented by Kaplan Fox & Kilsheimer LLP. Our firm, with offices in New York, San Francisco, Chicago and New Jersey, has more than 30 years of experience prosecuting investor class actions and actions involving financial fraud. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com .
If you are a member of the proposed Class, you may move the court no later than January 30, 2004 to serve as a lead plaintiff for the Class. In order to serve as a lead plaintiff, you must meet certain legal requirements.
If you have any questions about this Notice, the action, your rights, or your interests, please e-mail us at mail@kaplanfox.com or contact:
Frederic S. Fox, Esq. Laurence D. King, Esq. Christine M. Fox, Esq. Kaplan Fox & Kilsheimer LLP Donald R. Hall, Esq. 555 Montgomery Street Kaplan Fox & Kilsheimer LLP San Francisco, CA 94111 805 Third Avenue, 22nd Floor (415) 772-4700 New York, NY 10022 Fax: (415) 772-4707 (800) 290-1952 E-mail address: mail@kaplanfox.com (212) 687-1980 Fax: (212) 687-7714 E-mail address: mail@kaplanfox.com
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca