PracticeAuditAIG settles $725m accounting lawsuit

AIG settles $725m accounting lawsuit

AIG to make payout after allegations of accounting fraud and stock price manipulation

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

Former
AIG executives accused of accounting fraud

US
prosecutor probe targets ex-London chief in AIG collapse

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