Mealey's Insurance - AIG To Pay $970.5M To Settle Securities Law Claims In Shareholder Class Action

Mealey's Insurance - AIG To Pay $970.5M To Settle Securities Law Claims In Shareholder Class Action

NEW YORK - American International Group Inc. (AIG) has agreed to pay $970.5 million to settle claims in a federal lawsuit in New York that it and several of its senior officers and directors misled investors as to AIG's exposure to the subprime mortgage lending crisis of 2008, according to a press release issued Aug. 4 (In re American International Group, Inc. 2008 Securities Litigation, No. 08-4772, S.D. N.Y.; 2013 U.S. Dist. LEXIS 60185).

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