November 20, 2009 5:56 PM |
Posted by Shwayri, Rebecca |
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Marsh & McLennan, one of the world’s largest insurance brokers, has agreed to pay $435 million to settle class action shareholder lawsuits. The plaintiffs have alleged bid-rigging and price-fixing by the company’s insurance brokerage unit. Marsh & McLennan has not admitted wrongdoing.
Three shareholders have filed lawsuits against Burlington Northern Sante Fe Corporation after the company announced that it had agreed to be acquired by billionaire investor Warren Buffet. The plaintiffs, who seek class action status for their lawsuits, allege that Burlington’s management shortchanged stockholders, rushed into a deal for their own benefit, and failed to get the highest price.