CINCINNATI, Dec. 17, 2008 (GLOBE NEWSWIRE) -- Attorney Advertising -- The class action Cincinnati law firm of Statman, Harris & Eyrich, LLC announces it is investigating The McGraw-Hill Companies, Inc. ("Company") (NYSE:MHP) for potential violations of the Employee Retirement Income Security Act of 1974 ("ERISA") relating to the McGraw-Hill 401(k) Savings and Profit Sharing Plan and its Subsidiaries and the Standard & Poor's 401(k) Savings and Profit Sharing Plan for Represented Employees (the "Plans").
Statman, Harris & Eyrich, LLC is investigating whether the Company and/or other administrators of the Plans breached their fiduciary duties to the Plans' participants by failing to prudently and loyally manage the Plans' investments. The investigation focuses on whether McGraw-Hill continued to make and maintain investment in McGraw-Hill stock despite the Company's failure to disclose that its subsidiary, Standard & Poor's, had assigned excessively high ratings to bonds backed by subprime mortgages, had conflicts of interest with respect to such ratings, and otherwise acted recklessly, inappropriately and potentially unlawfully with respect to its ratings of bonds backed by subprime mortgages.
If you are a participant in the 401(k) Savings and Profit Sharing Plan of The McGraw-Hill Companies, Inc. and its Subsidiaries or the Standard & Poor's 401(k) Savings and Profit Sharing Plan for Represented Employees and held McGraw-Hill stock in the Plans and would like to learn more about these claims, or have any questions concerning this notice or your rights with respect to this matter, please contact Elizabeth L. Hutton, Esq. at (513) 621-2666 or (888) 876-7881, or via e-mail at ehutton@statmanharris.com for further information without any obligation or cost to you.
Statman, Harris & Eyrich, LLC has offices in Chicago, Illinois; Cincinnati, Ohio; Dayton, Ohio; and Sarasota, Florida. www.statmanharris.com