SEATTLE, Feb. 24, 2005 (PRIMEZONE) -- Keller Rohrback L.L.P. today announced that the Honorable Shirley Kram of the United States District Court for the Southern District of New York recently appointed Keller Rohrback L.L.P. as Lead Counsel for the Class in this ERISA class action brought on behalf of the participants and beneficiaries in the Marsh & McLennan Companies, Inc. Stock Investment Plan (the "Plan"), who held and/or purchased Marsh & McLennan Companies, Inc. ("Marsh") (NYSE:MMC) stock in their Plan accounts between October 19, 1998 and the present (the "Class Period").
Judge Kram also appointed the law firms of Cohen, Milstein, Hausfeld & Toll, P.L.L.C. and Schatz & Nobel, P.C. to serve on an executive committee for the plaintiffs, and appointed Goodkind Labaton Rudoff & Sucharow LLP to the executive committee and as liaison counsel for the plaintiffs.
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 stock. They did so despite the fact that Defendants knew or should have known that Marsh 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 stock, and, thus, that Marsh 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://erisafraud.com/marsh, 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.