Wolf Haldenstein Adler Freeman and Herz LLP Initiates Class Action Lawsuit on Behalf of Participants and Beneficiaries of the Marsh & McLennan Putnam Investments Profit Sharing Retirement Plan NEW YORK, Nov. 5 /PRNewswire/ -- On November 4, 2004, Wolf Haldenstein Adler Freeman & Herz LLP filed a class action lawsuit in the United States District Court for the Southern District of New York, on behalf of all participants and beneficiaries of the Marsh & McLennan Putnam Investments Profit Sharing Retirement Plan and the Marsh & McLennan Companies Stock Investment Plan (the "Plans") of Marsh & McLennan Companies, Inc. ("MMC" or the "Company") [NYSE: MMC], between November 1, 1998 and the present, inclusive (the "Class Period"), against defendant Marsh & McLennan Companies, Inc. and certain officers and directors of the Company. A copy of the Complaint is available from the Court, or can be viewed on the Wolf Haldenstein Adler Freeman & Herz LLP website at http://www.whafh.com/. The Complaint alleges that during the Class Period, Plan fiduciaries knew or should have known, that the Company was paying illegal and concealed "contingent commissions" pursuant to illegal "contingent commission agreements;" that violated applicable principles of fiduciary law, subjecting the Company to enormous fines and penalties totaling potentially tens -- if not hundreds -- of millions of dollars. Plan fiduciaries knew, or should have known, that this business practice was improper and unsustainable and that the value of the Company's stock, and thus the value of the Plan, was based on financial results dependent on these unsustainable business practices. By no later than November 1, 1998, Marsh & McLennan Companies, Inc. and the Individual Defendants knew, or should have known, that Marsh & McLennan Companies, Inc.'s stock was a highly inappropriate investment for a long-term retirement savings plan such as the Plan because of the financial issues described above and other questionable business practices. Despite this, Defendants continued to offer Marsh & McLennan Companies, Inc.'s stock as a Plan investment alternative, continued to cause Marsh & McLennan Companies, Inc. matching contributions to be invested in Marsh & McLennan Companies, Inc. stock, and failed to impute their full knowledge of the Company's operations on Plan participants so that the Plan participants could make an informed decision concerning their Plan investments in Company stock. If you were a participant or a beneficiary of the Plan, you may retain Wolf Haldenstein, or other counsel of your choice, to serve as your counsel in this action. Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has approximately 60 attorneys in various practice areas; and offices in Chicago, New York City, San Diego, and West Palm Beach. The reputation and expertise of this firm in financially oriented class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation. If you wish to discuss this action or have any questions, please contact Wolf Haldenstein Adler Freeman & Herz LLP at 270 Madison Avenue, New York, New York 10016, by telephone at (800) 575-0735 or (212) 545-4600 (Fred Taylor Isquith, Esq., Mark C. Rifkin, Esq. or Gustavo Bruckner, Esq.), via e-mail at or visit our website at http://www.whafh.com/. All e-mail correspondence should make reference to Marsh & McLennan Companies, Inc. ERISA. DATASOURCE: Wolf Haldenstein Adler Freeman & Herz LLP CONTACT: Fred Taylor Isquith, Esq., Mark C. Rifkin, Esq. or Gustavo Bruckner, Esq., all of Wolf Haldenstein Adler Freeman & Herz LLP, 1-800-575-0735, or +1-212-545-4600, Web site: http://www.whafh.com/

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