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...
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