Doubts surface over AIG’s $725mn Ohio settlement
American International Group (AIG)'s $725mn Ohio pension funds settlement appeared to bring a long-running securities litigation case to a close. But closer scrutiny of the agreement has raised doubts over the fallen insurance giant's ability to fund its obligations.
According to the insurer's 16 July Securities and Exchange Commission (SEC) filing, the settlement requires court approval and a minimum level of shareholder participation to be consummated.
Under the terms of the deal, AIG must pay $175mn into escrow within 10...
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