The Traderszone Network

Published in TZ Latest News 20 March, 2015 by The TZ Newswire Staff

AIG investors’ $970.5 million settlement wins US court approval

American International Group Inc (AIG.N) shareholders won approval on Friday of a $970.5 million settlement resolving claims they were misled about its subprime mortgage exposure, leading to a liquidity crisis and $182.3 billion in federal bailouts. U.S. District Judge Laura Taylor Swain in Manhattan granted final approval at a hearing to what lawyers for the investors call one of the largest class action settlements to come out of the 2008 financial crisis. The U.S. Justice Department and U.S. Securities and Exchange Commission closed related probes involving AIG in 2010.

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