US law firm Rabin, Murray & Frank LLP has launched a Class Action Lawsuit against Marsh & McLennan on behalf of those who purchased securities from Marsh between 3 January 2000 and 3 November 2003.
The class action alleges that Marsh & McLennan and some of its chief executives violated US federal securities laws.
According to Rabin, Murray & Frank, the class action alleges that, among other things, Marsh & McLennan issued false and misleading statements about its subsidiary Putnam Investments LLC, which caused Marsh's stock price to become artificially inflated and inflicted damages on investors.
