AXA Sues ING Over $1.5B Sale Of Mexican Insurer

Law360, New York (November 30, 2010, 1:32 PM EST) -- An AXA Group unit has slapped an ING Groep NV subsidiary with a suit claiming that ING misled AXA about the financial condition of a Mexican insurance company it sold to AXA for $1.5 billion in 2008.

In a complaint lodged Friday in the Supreme Court of the State of New York, New York County, AXA asserts that ING's misrepresentations during the sale of Seguros ING SA de CV and its bond unit ING Fianzas SA to AXA have caused AXA to lose tens if not...
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