AIG Settles $350M CDO Suit Against Investment Firm ICP

Law360, New York (April 2, 2013, 8:08 PM EDT) -- ICP Asset Management LLC has settled American International Group Inc.'s claims that the investment adviser rigged a complex securities transaction to put AIG on the hook for $350 million, an attorney for a hedge fund co-defendant said during a New York state appeals court hearing Tuesday.

David M. Zensky of Akin Gump Strauss Hauer & Feld LLP, who represents hedge fund Moore Capital Management LP, which allegedly helped ICP carry out the fraud, said that he'd found Tuesday that ICP had settled with AIG over allegations...
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