Artemis Strikes $62.5M Deal In AIG Fraud Suit Over Sale

Law360, New York (October 13, 2011, 9:29 PM EDT) -- Artemis SA reached a $62.5 million settlement Thursday in an American International Group Inc. unit's suit against it, Credit Lyonnais SA and others over an alleged fraud connected with AIG's failed attempt to buy troubled Executive Life Insurance Co. in the early 1990s.

A California federal judge approved the settlement between SAFG Retirement Services Inc. — a unit of SunAmerica Inc., which is now owned by AIG and filed the suit in 2005 as AIG Retirement Services Inc. — and Artemis, putting to rest a suit...
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