AIG Can't Ditch Pension Plan Action

Law360, New York (March 31, 2011, 7:32 PM EDT) -- A New York federal judge on Thursday largely left intact a consolidated class action against American International Group Inc. and others alleging that the insurer's employee pension plans improperly invested in its own poorly performing stock.

In an order, Judge Laura Taylor Swain of the U.S. District Court for the Southern District of New York trimmed claims from the case, but advanced the bulk of the plaintiffs’ allegations, which target AIG, company directors, retirement board members and investment committee members.

The class action, consolidated in 2009,...
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