AIG settles $725m accounting lawsuit
AIG to make payout after allegations of accounting fraud and stock price manipulation
US insurance giant
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.