Investment Funds Hit AIG With $60M Fraud Suit

Law360, New York (October 2, 2013, 1:16 PM EDT) -- A group of investment funds that objected to a $725 million class action settlement with American International Group Inc. over an alleged market division scheme hit the company with a new, $60 million suit over the same claims Monday.

The plaintiffs — investment funds whose investors include state, municipal and corporate pension and retirement funds; educational, research and charitable endowments; and other institutional and individual investors — allege AIG disseminated false and misleading statements concerning its financial results and operations and manipulated the stock market during...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.