AIG Retirement Plans Get Slice of $725M Securities Settlement

Four American International Group Inc. retirement plans can share in a $725 million securities settlement between AIG and its investors, the U.S. Court of Appeals for the Second Circuit ruled (In re Am. Int’l Grp., Inc. Sec. Litig. (Rothstein v. Am. Int’l Grp., Inc.), 2016 BL 308876, 2d Cir., No. 14-4067-cv-L, 9/20/16).

In 2014, a federal judge denied the retirement plans a piece of the settlement pie on the grounds that they were “affiliates” of AIG and thus specifically excluded from profiting by the terms of the settlement agreement. Partly undoing that ruling, the Second Circuit ...