IN RE MARSH ERISA SETTLEMENT WEBSITE
Welcome to the Marsh ERISA Settlement website. This website
has been established to keep class members informed about the
Class Action Settlement reached in In re Marsh ERISA Litigation,
U.S. District Court, Southern District of New York Case No.
As described in more detail in the
Complaint, this lawsuit concerns allegations that Defendants
breached fiduciary duties they purportedly owed to participants
and beneficiaries in the Marsh & McLennan Stock Investment Plan
during the Class Period, July 1, 2000 through January 31, 2005.
The Defendants deny the allegations. Copies of Plaintiffs’
Consolidated Amended Complaint and other documents filed in the
lawsuit are available via the Document Links on this website.
The Court has certified the following Class for settlement
(a) all current and former participants and beneficiaries of
the Plan whose individual Plan account(s) included investments
in MMC stock at any time during the Class Period and (b) as to
each Person within the scope of subsection (a) of this, his, her
or its beneficiaries, alternate payees (including spouses of
deceased Persons who were participants of the Plan),
Representatives and Successors-In-Interest, provided, however,
that the Class shall not include any Defendant or any of their
Immediate Family, beneficiaries, alternate payees (including
spouses of deceased Persons who were Plan participants),
Representatives or Successors-In-Interest, except for spouses
and immediate family members who themselves are or were
participants in the Plan, who shall be considered members of the
Class with respect to their own Plan accounts.
As part of the Settlement, the Defendants agreed to pay the
sum of $35,000,000 (Thirty-five Million Dollars) in cash, which
has been deposited into a Gross Settlement Fund. After payment
of and/or establishment of reserves for taxes, Court-approved
costs, attorneys’ fees, and expenses (including any
Court-approved compensation to be paid to Named Plaintiffs), the
Net Settlement Fund proceeds will be allocated to the plan
accounts of members of the Settlement Class in accordance with
the Plan of Allocation to be approved by the Court. If
necessary, a plan account will be created for those members of
the Settlement Class who no longer have Plan accounts.
On November 10, 2009, the Court granted preliminary approval
to the Settlement, preliminarily certified the Settlement Class,
approved forms and methods of notice to be issued to Class
Members, and scheduled a Fairness Hearing. At the Fairness
Hearing, to be held on January 29, 2010, the Court will
determine whether the Settlement should be approved as fair,
reasonable, and accurate, whether Lead Counsel’s motion for an
award of attorneys’ fees and expenses should be approved,
whether to approve case contribution awards to the Named
Plaintiffs, and whether to approve the Plan of Allocation.
At the Fairness Hearing held January 29, 2010, the Court
approved the Settlement as fair, reasonable, and adequate,
certified the Class for settlement purposes, granted Lead
Counsel’s motion for an award of attorneys’ fees and expenses,
approved case contribution awards to the Named Plaintiffs,
approved the Plan of Allocation, rejected the objections
received, and entered a
Final Order and Judgment in the case.
Please see the
Notice of Proposed Settlement for more
information concerning the Settlement.
The settlement distribution to Class Members occurred on
September 29, 2010. If you qualify as a Settlement Class member
and are a current member of the Plan, then your Plan account has
been automatically credited with your Settlement award amount.
If you qualify as a Settlement Class member but do not have a
current account in the Plan, then an account has been set up for you.
You will receive a letter in the mail about your account and how to
access your settlement award.
Please note that under the
Court-approved Plan of Allocation, if your
share of the Settlement is calculated to be less than $25, you will
receive no payment.
Please DO NOT contact the Court or Marsh & McLennan regarding the
Settlement. If you have additional questions, please call the Toll Free
Settlement hotline (800) 332-9084 or send an email to the Settlement Plan