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STATE v. MARSH & McLENNAN COMPANIES, INC.

(CC 050808454; CA A139453; SC S059386).

292 P.3d 525 (2012)

353 Or. 1

STATE of Oregon, acting by and through the Oregon State Treasurer, and the Oregon Public Employee Retirement Board, on behalf of the Oregon Public Employee Retirement Fund, Petitioner on Review, v. MARSH & McLENNAN COMPANIES, INC. and Marsh, Inc., Respondents on Review, and Jeffrey Greenberg and Ray Groves, Defendants.

Supreme Court of Oregon, En Banc.

Decided December 13, 2012.

Attorney(s) appearing for the Case

Keith S. Dubanevich , Special Counsel, Salem, argued the cause for petitioner on review. With him on the briefs were John R. Kroger , Attorney General, Mary H. Williams , Solicitor General, and Denise G. Fjordbeck , Assistant Attorney General.

James T. McDermott , Ball Janik LLP, Portland, argued the cause for respondents on review. With him on the brief was Dwain M. Clifford .

Kim T. Buckley and John W. Stephens , Esler, Stephens & Buckley, LLP, Portland, filed a brief on behalf of amici curiae Oregon Trial Lawyers Association and Economic Fairness Oregon.

Meyer Eisenberg , Washington D.C., and Franklin Jason Seibert , F.J. Seibert, LLC, Salem, filed a brief on behalf of amici curiae Meyer Eisenberg and Franklin Jason Seibert .

Robert S. Banks, Jr. , Banks Law Office, PC, Portland, filed a brief on behalf of amicus curiae North American Securities Administrators Association.

DE MUNIZ, J.

This case arises under provisions of the Oregon Securities Law set out in ORS chapter 59. The State of Oregon, acting by and through the Oregon State Treasurer, and the Oregon Public Employee Retirement Board (PERB), on behalf of the Oregon Public Employee Retirement Fund (PERF) (collectively, "state"), have asserted claims against Marsh & McLennan Companies, Inc. (MMC) and Marsh, Inc.(MI) (collectively, "Marsh"). The state alleges that Marsh engaged...

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