Proposed Class Action Against AIG Tossed

Law360 (June 1, 2007, 12:00 AM EDT) -- A judge in Manhattan has thrown out a putative class action against American International Group Inc. and First SunAmerica Life Insurance Co. that accused the insurance companies of defrauding purchasers of bonus annuity contracts out of millions of dollars.

Thursday, U.S. District Judge Jed S. Rakoff granted a motion to dismiss the case against AIG and First SunAmerica. Judge Rakoff's one-page order said that a written opinion explaining his decision would follow “in due course,” at which time the clerk would be directed to enter final...
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