AIG To Pay $4M In Workers' Comp Class Action Settlement

Law360, New York (September 17, 2012, 3:23 PM EDT) -- A federal judge on Friday approved a $4 million settlement between American International Group Inc. and a class of insured South Carolina businesses, capping off four years of litigation over the insurer’s allegedly fraudulent calculation of workers’ compensation premiums.

U.S. District Judge Joseph F. Anderson Jr. certified the class and granted final approval of the settlement — calling it fair, reasonable and in the best interest of the class. The South Carolina businesses sued AIG in 2008 alleging the insurance giant improperly inflated premiums for their...
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