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US: Bid-rigging claim by former Marsh execs dismissed

By  |  January 27, 2015

Attempts by two former Marsh executives to sue for severance pay and stock awards after they were cleared in a bid-rigging probe were dismissed by a US District Judge on Monday.

Spitzer in October 2004 accused Marsh of rigging bids for insurance contracts and steering clients to favored insurers in exchange for kickbacks. Marsh agreed to the $850 million civil settlement three months later.

District Judge Paul Oetken said William Gilman and Edward McNenney failed to show that they were entitled to the awards in their employment contracts.

The insurance company reached an $850 million civil settlement in the probe.

Full Content: Reuters

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