Class Action Suit Against Marsh & McLennan Dismissed

Law360, New York (March 3, 2006, 12:00 AM EST) -- A class action suit filed against insurance broker Marsh & McLennan Co. has been tossed by a federal judge, who dismissed allegations that Marsh subsidiary Putnam Investments had engaged in improper market timing that inflated Marsh’s share price.

The complaint, filed against Marsh, Putnam and various executives, alleged that both companies permitted mutual fund investors and managers to make a rapid series of mutual fund trades, a practice known as market timing.

The shareholders claim that these trades were not disclosed until months after they occurred...
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