Marsh May Pay Over $500 Million to Settle Civil Case
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October 29, 2004 - With stock prices falling and a new chief executive at the helm, Marsh &amp; McLennan Cos. may quickly settle a civil suit filed by New York Attorney General Eliot Spitzer, but it may cost $500 million or more.
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NEW YORK - A day after sacking its chief executive, Marsh &amp; McLennan (MMC) announced Tuesday it will stop accepting fees at the heart of a lawsuit by New York&#39;s attorney general accusing the world&#39;s largest insurance broker of rigging prices.
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Louisiana's state-run insurer is nearing a mass settlement with homeowners that would be the first deal of its kind in the state since hurricanes Rita and Katrina led to thousands of lawsuits, an attorney for the homeowners said Monday.
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Insurance broker Marsh &amp; McLennan Cos. said yesterday it is renegotiating terms of $2.8 billion of backup bank financing after New York Attorney General Eliot Spitzer sued the company last week. The move is likely to raise the company's borrowing costs.
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DuPont agreed to a settlement Thursday that could be worth more than $340 million to resolve a class action lawsuit alleging the chemical giant contaminated a West Virginia community's water supply with a key ingredient used in its Teflon products.
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Time Warner said yesterday that it had set aside $500 million to pay for potential penalties stemming from a government investigation into accounting practices at America Online, a step that
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The price for settling state charges of collusion and bid rigging by the nation's largest insurance broker could be "far higher" than $500 million, the New York Attorney General said today.
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(New York-AP, Sept. 3, 2004 5:40 PM) _ Pfizer agreed to pay $430 million to settle lawsuits alleging injury from insulation products made by a subsidiary.
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NEW YORK - Today, New York Attorney General Eliot Spitzer will announce that he is filing both criminal and civil lawsuits against Marsh &amp; McLennan, the largest US insurance brokerage firm.
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Massachusetts gets a $5 million settlement as the fund firm admits that an investor engaged in market timing.
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The price for settling state charges of collusion and bid-rigging by the nation's largest insurance broker could be ''far higher&quot; than $500 million, New York Attorney General Eliot Spitzer said yesterday.
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Marsh &amp; McLennan Cos. , the world's largest insurance broker, may settle New York Attorney General Eliot Spitzer's claims of rigged bids and kickbacks within a month, chief executive Michael Cherkasky said.
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Raymond Cunningham, the former chief executive of Invesco Funds Group, agreed to pay $500,000 to settle lawsuits over improper mutual fund trading, his lawyers said yesterday.
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Hewlett-Packard Co. said on Thursday it would pay California $14.5 million to settle a civil case related to board-leak investigations that led to the resignation of Chairman Patricia Dunn.
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New York Attorney General Eliot Spitzer has sued Marsh, alleging that the world&#39;s largest insurance broker steered unsuspecting clients to insurers with whom it had lucrative payoff agreements, and that the firm solicited rigged bids for insurance
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Eliot Spitzer&#39;s filed a complaint against Marsh &amp; McLennan in State Supreme Court in Manhattan Thursday, alleging that the insurance broker received payments from companies to reward it for steering business their way.
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IBM, in the latest turn in a  pension plan case that could reverberate through the Fortune  500, said on Friday it is in talks to resolve some of the  issues in a lawsuit that could cost Big Blue billions of  dollars.