Great American, Mass. AG Settle Bid-Rigging Suit

Law360, New York (May 15, 2009, 12:00 AM EDT) -- The Massachusetts attorney general has reached an agreement with Great American Insurance Co. to settle allegations that the insurer submitted a fake, uncompetitive insurance quote to a semiconductor maker as part of a bid-rigging scheme to ensure the renewal of the manufacturer's annual contract with American International Group Inc.

Under the terms of the settlement filed Thursday in Suffolk Superior Court, Great American will pay $60,000 to Analog Devices Inc., as well as $116,000 to the commonwealth of Massachusetts, and will undertake reforms to prevent bid-rigging...
To view the full article, register now.