Lead Plaintiff Appeals Toss Of AIG Derivative Suit

Law360, New York (April 30, 2010, 2:19 PM EDT) -- A Louisiana municipal retirement fund has appealed a New York federal judge's rejection of its shareholder derivative suit accusing American International Group Inc. of waste and breach of fiduciary duty over the global insurer's disastrous exposure to mortgage-related liabilities.

Thursday's notice of appeal, which sends the case to the U.S. Court of Appeals for the Second Circuit, came a month after U.S. District Judge Laura Taylor Swain of the Southern District of New York ruled that the plaintiffs did not seek redress through the global insurer's...
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