Legal Opinion
State Ex Rel. Oregon State Treasurer v. Marsh & McLennan Companies, Inc.
Court of Appeals of Oregon
Decided February 23, 2011No. 050808454; A139453PublishedCited by 4 opinions
1Opinion of the CourtSchuman, P. J.
Investment managers retained by the State of Oregon purchased stock, on behalf of the Oregon Public Employee Retirement Fund (OPERF), in an insurance consulting and brokerage firm called Marsh & McLennan. After most of the purchases had occurred, the Attorney General of New York announced that Marsh & McLennan executives had pled guilty to criminal charges relating to various corporate misdeeds. Marsh & McLennan shares immediately fell; according to the state, the decline in value cost OPERF approximately $10 million. The state subsequently brought this action alleging that the $10 million…
2Cases cited12 opinions
- Basic Inc. v. LevinsonSupreme Court of the United States · 1988
- Affiliated Ute Citizens of Utah v. United StatesSupreme Court of the United States · 1972
- State v. GainesOregon Supreme Court · 2009
- Pacific Gas & Electric Co. v. State Energy Resources Conservation & Development CommissionSupreme Court of the United States · 1983
- Securities & Exchange Commission v. Capital Gains Research Bureau, Inc.Supreme Court of the United States · 1963
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3Cited by4 opinions
- State Treasurer v. Marsh & McLennan Companies, Inc.Oregon Supreme Court · 2012
- Pearson v. Philip Morris, Inc.Court of Appeals of Oregon · 2013
- Avenue Lofts Condominiums Owners' Ass'n v. Victaulic Co.District Court, D. Oregon · 2014
- State ex rel. Oregon State Treasurer v. Marsh & McLennan Companies, Inc.Court of Appeals of Oregon · 2015