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19 Jul 2010
US insurance giant AIG has agreed to pay out $725m (£473m) in a settlement against a lawsuit brought by three Ohio pension funds.
The payout follows a lawsuit alleging AIG had committed accounting fraud, manipulated stock price and taken part in anti-competitive behaviour between 1999 and 2005.
Court approval is required before the payment can be made.
Further reading:
SEC charges Gen Re for role in AIG accounting fraud
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Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
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