COLCHESTER, Conn., Jan. 26, 2005 (PRIMEZONE) -- Scott + Scott, LLC will move for lead plaintiff/lead counsel in the pension benefits case against Marsh & McLennan (MMC). MMC is the Plan Sponsor and is a fiduciary of the Plan within the meaning of ERISA. Marsh & McLennan (NYSE:MMC) exercises discretionary authority with respect to management and administration of the Plan and/or management and disposition of the Plan's assets. Marsh & McLennan at all times acted through its officers and employees, including its Chief Executive Officer ("CEO") and members of its Board oversight and/or Plan administrative committees appointed by the Company to perform MMC's Plan-related fiduciary functions in the course and scope of their employment.
Marsh & McLennan had, at all applicable times, effective control over the activities of its officers and employees, including over their MMC Plan-related activities. Marsh & McLennan, through its Board of Directors, Executive Officers or otherwise, had the authority and discretion to hire and terminate said officers and employees. Marsh & McLennan, through its Board and otherwise, also had the authority and discretion to appoint, monitor, and remove Directors, Officers and other employees from their individual fiduciary roles with respect to the Plan. By failing to properly discharge their fiduciary duties under ERISA, such Defendant-fiduciaries breached their duties they owed to Participants in the Plans and their beneficiaries. Accordingly, the actions of these fiduciaries are imputed to Marsh & McLennan under the doctrine of respondeat superior, and Marsh & McLennan is liable for such actions. Scott + Scott counsel in Federal Court in New Jersey today on behalf of its many clients.
Plaintiffs allege that defendants are liable under ERISA for such breaches of fiduciary duty. If you are a participant or beneficiary of this group/class and would like to join this organized group or just receive a package of additional information, you can receive a copy of the complaint filed in this action from the Court, or it can be viewed at www.scott-scott.com . You can also contact Scott + Scott, LLC at 800/404-7770 (EST) or 800/332-2259 or 619/233-4565 (PST).
Scott + Scott, LLC, a Connecticut-based law firm with offices in Ohio and California, is a law firm with a national practice and reputation. Scott + Scott has dedicated itself to client communication and satisfaction. The firm is currently litigating major securities, antitrust and employee retirement plan cases throughout the United States and represents pension funds, charities, foundations, individuals and other entities worldwide -- both as class and non-class cases. If you wish to discuss this action with an attorney or have any questions concerning this notice or your rights, please contact attorney Neil Rothstein at nrothstein@scott-scott.com or by calling 1-800-332-2259. Scott + Scott, LLC is located at 108 Norwich Avenue, Colchester, CT 06415; phone: 860/537-3818; fax: 860/537-4432.
More information on this and other class actions can be found on theClass Action Newsline at www.primezone.com/ca.
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