Judge Tosses Annuities Suit Against AIG Subsidiary

Law360, New York (June 4, 2012, 8:01 PM EDT) -- A Texas federal judge on Thursday threw out a putative class action against a subsidiary of American International Group Inc. alleging the company violated securities laws when it sold deferred annuities, ruling that the claims are time-barred.

U.S. District Judge Sim Lake refused to include the appeal of a related lawsuit in his calculation of the deadline for the class action and held the complaint against the Variable Annuity Life Insurance Co., a wholly owned subsidiary of AIG, was filed four months too late.

The plaintiffs,...
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