Litigation
Apr. 3, 2009
Shareholders Sue AIG Over Executives' Bonuses
A shareholder lawsuit filed Wednesday against American International Group Inc. seeks the return of nearly $400 million in bonus money set aside for executives who sold risky credit default swaps largely responsible for the near collapse of the insurance and financial services giant.
Daily Journal Staff Writer LOS ANGELES - A shareholder lawsuit filed Wednesday against American International Group Inc. seeks the return of nearly $400 million in bonuses set aside for executives who facilitated the insuring of risky credit default swaps. The investment instruments are considered to be largely responsible for the near collapse of the insurance and financial services giant in 2008 and the worldwide credit crisis. ...
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