Grant & Eisenhofer recovered $400 million for investors, representing the lead plaintiffs, in Marsh & McLennan bid-rigging securities litigation
Plaintiff(s):
Public pension funds serving as lead plaintiffs on behalf of investors
Case type / claims:
Securities fraud class action alleging that Marsh & McLennan and related defendants engaged in a scheme to rig bids and steer insurance business to preferred carriers in exchange for undisclosed kick-back commissions, thereby inflating company revenues and misleading investors about its core brokerage operations.
Defendant(s):
Marsh & McLennan Companies, Inc., certain officers and directors, auditors and underwriters
Jurisdiction:
U.S. District Court for the Southern District of New York
Year:
2009
Outcome:
- Settled for $400 million after five years of litigation, delivering significant recovery to investors.
- This case further exposed industry-wide conflicts in commercial insurance placement practices.
