Marsh Settles ERISA Class Action For $35M

By Melissa Lipman

Law360, New York (November 10, 2009, 1:18 PM ET) -- Marsh & McLennan Cos. Inc. has agreed to pay $35 million to settle a class action alleging that the insurance giant failed to warn investors in its employee investment plan that the company's stock was inflated as a result of bid-rigging and price-fixing.

The motion for preliminary settlement approval — filed Monday in the U.S. District Court for the Southern District of New York — seeks court approval of the settlement class of all current and former participants in and beneficiaries of the plan whose accounts...
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