Parker & Waichman, LLP Reviewing Claims of Apparent Conflicts of Interest in Marsh & McLennan Employee Retirement Plans -MMCOct 21, 2004 | PRIMEZONE
Parker & Waichman, LLP is reviewing claims of apparent conflicts of interest in the management of Marsh & McLennan Companies Inc. (NYSE:MMC) employee retirement funds. Marsh & McLennan employees can learn more about these claims by visiting http://www.yourlawyer.com/practice/overview.htm?topic=Marsh%20McLennan .
Parker & Waichman, LLP is evaluating claims as to whether Marsh and McLennan violated the Employee Retirement Income Security Act of 1974 ("ERISA"). It has been reported that Marsh & McLennan appointed employment fund fiduciaries who were employed by the Company. As a result a large percentage of employee retirement funds are believed to have been invested in Marsh & McLennan's own stock or financial products. In 2003, Marsh & McLennan employee-benefit plan had $1.3 billion invested in Marsh & McLennan's own stock.
Marsh & McLennan' stock has dropped sharply in price since Eliot Spitzer, Attorney General of New York, filed a lawsuit against the company, contending that bid-rigging and other improprieties occurred in Marsh's insurance brokerage unit. Regulatory concerns have prompted several Wall Street analysts and credit rating agencies to downgrade Marsh & McLennan.
For more information on this investigation please visit http://www.yourlawyer.com/practice/overview.htm?topic=Marsh%20McLennan . For more information on Parker & Waichman LLP, please visit www.yourlawyer.com or call 1-800-YOURLAWYER. Current and former Marsh & McLennan employees and shareholders are also encouraged to visit www.injurytalk.com.
CONTACT: Parker & Waichman, LLP