Marsh Settles ERISA Class Action For $35M

Law360 (November 10, 2009, 1:18 PM EST) -- 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 included investments in MMC stock between July 2000 and the end of January 2005....

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