AIG Says Securities Class Is Too Big To Certify

Law360, New York (August 18, 2011, 4:03 PM EDT) -- American International Group Inc. contends in a motion filed Wednesday in New York court that the proposed class in a suit over AIG's 2008 near-collapse is much too large and should not be certified.

AIG opposed the plaintiffs' motion for class certification, claiming the proposed class was too big, too diverse and involved too many different securities to be certified. Other defendants, including AIG's underwriters and auditor, also said the class was too big.

AIG, citing the recent U.S. Supreme Court decision in Wal-Mart v. Dukes,...
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