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Byline: Jaret Seiberg
Marsh & McLennan Cos. will be swamped with shareholder litigation stemming from its run-in with New York Attorney General Elliot Spitzer.
In truth, such an outcome is almost assured in any corporate scandal, and Marsh is as vulnerable as any public company. One can hardly blame shareholders for being upset. Spitzer found indisputable evidence that Marsh rigged bids to earn kickbacks from insurers rather than procure the best policies at the lowest prices for its corporate clients.
Yet, in an ideal world, holders of Marsh's $15 billion in market capitalization might reward new management and the board for saving the company …