AIG In $725M Deal To End Ohio Funds' Fraud Case

Law360, New York (July 16, 2010, 6:42 PM EDT) -- American International Group Inc. has agreed to a $725 million settlement to end a fraud case brought by several Ohio pension funds that accused the insurer of anti-competitive market division and stock price manipulation, Ohio's attorney general said Friday.

The settlement, which still requires the approval of Judge Deborah A. Batts of the U.S. District Court for the Southern District of New York, would see the bailed-out insurance giant make a cash payment of $175 million and fund the remaining $550 million through common stock offerings,...
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