SEATTLE, Dec. 15, 2006 (PRIME NEWSWIRE) -- Keller Rohrback L.L.P. today announced that on December 14, 2006, the Honorable Shirley Wohl Kram issued an order in which she granted in part and denied in part the Defendants' Motions to Dismiss in the class action ERISA lawsuit against Marsh & McLennan Companies Inc. (NYSE:MMC). The order allows Plaintiffs to proceed with the lawsuit against all of the Defendants named in the Complaint (described below).
The In Re Marsh ERISA Litigation Consolidated Complaint was filed on June 15, 2005 in the United States District Court for the Southern District of New York on behalf of Plaintiffs and a class of all persons who were participants in or beneficiaries of the Marsh & McLennan Companies Stock Investment Plan (the "Plan") between July 1, 2000 and January 31, 2005 (the "Class Period"). Plaintiffs allege that the Defendants breached their ERISA fiduciary duties by imprudently permitting the Plan to hold and acquire hundreds of millions of dollars in Marsh & McLennan stock. They did so despite the fact that Defendants knew or should have known that Marsh & McLennan and/or its wholly-owned subsidiaries were engaging in highly risky if not illegal activities such as bid rigging and price fixing, which artificially inflated the value of Marsh & McLennan stock, and, thus, that Marsh & McLennan stock no longer was a prudent and appropriate investment for participants' and beneficiaries' retirement savings.
If you are a participant or beneficiary in the Plan and would like further information on this case, please visit our website, http://www.erisafraud.com, which is designed to keep class members updated on the case. You may also contact any member of our team (paralegal Jennifer Tuato'o or attorneys Lynn Sarko, Derek Loeser, or Erin Riley) toll free at (800) 776-6044 or via e-mail at investor@kellerrohrback.com.