AIG agrees to pay $725M to investors in settlement

Jul 16, 2010 @ 5:34 pm

By Associated Press

American Insurance Group Inc. and some of its directors and officers have agreed to a $725 million settlement to resolve allegations of wide-ranging fraud laid out in a class action suit led by three Ohio pension funds.

Ohio Attorney General Richard Cordray said Friday the latest figure will combine with previous AIG settlements to pay about $1 billion to investors, including firefighters, teachers, librarians and other pensioners. He characterized it as the 10th largest settlement of its kind in the U.S.

The lawsuit alleged anti-competitive market division, accounting violations, and stock price manipulation by AIG between October 1999 and April 2005.


What do you think?

View comments

Recommended next


Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting It'll help us continue to serve you.

Yes, show me how to whitelist

Ad blocker detected. Please whitelist us or give premium a try.


Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print