AXA Fights For Punitive Damages In $1.5B ING Row

Law360, New York (March 23, 2012, 6:50 PM EDT) -- An AXA SA unit argued in a New York state appeals court Friday that it should be able to seek punitive damages from an ING Groep NV subsidiary, which AXA claims misled it into paying $1.5 billion for a Mexico-based insurer.

AXA Mediterranean Holdings SA alleges that not until after it closed on the $1.5 billion stock purchase agreement to buy Seguros ING SA de CV and bond unit ING Fianzas SA in July 2008 did it discover that ING had painted an overly rosy financial...
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