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Judge Combines Slew Of ERISA Actions Against AIG

Law360 (March 20, 2009, 12:00 AM EDT) -- A federal judge has consolidated a series of proposed class actions filed against American International Group Inc., all of which allege Employee Retirement Income Security Act violations and claim the insurer's pension plan invested in its own poorly performing stock, causing millions of dollars in losses.

Judge Laura Taylor Swain of the U.S. District Court for the Southern District of New York on Thursday consolidated eight cases in the interest of judicial economy, finding that the actions involve overlapping defendants and present common factual and legal...
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