Tuesday, September 16, 2008

Former AIG Employee Files Lawsuit

A former employee with embattled insurer American International Group Inc. (AIG) has filed a lawsuit against the company, claiming they lost money from AIG's pension plan investments in the company's stock.

According to a Reuters (www.reuters.com) report, the lawsuit filed in U.S. District Court in Manhattan by a resident of Long Island, claimed the AIG Retirement Board and the board of directors made “false and misleading”statements to plan participants about exposure to subprime mortgages from 2006 to this year.

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