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$970M Settlement Reached in AIG Securities Lawsuit


This is a settlement for the Securities/Stock Fraud lawsuit.

Philadelphia, PA: A settlement, totaling $970.5 million, has been reached in the American International Group Inc, (AIG) 2008 securities litigation class action lawsuit pending in the US District Court for the Southern District of New York.

If approved by the Court, the total settlement amount will be among the largest recoveries ever achieved in a securities fraud class action stemming from the 2008 financial crisis. It would release claims of the members of the putative class, which consists of all persons and funds that purchased publicly issued common stock, corporate units, bonds, subordinated debentures and notes of AIG from March 16, 2006 through September 16, 2008, and were injured thereby.

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Published on Aug-5-14


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