State of Michigan Retirement Systems Seeks Lead Plaintiff Status in AIG Case

The State of Michigan Retirement Systems, represented by the law firm of Bernstein Liebhard & Lifshitz, as well as Barrack, Rodos & Bacine and The Miller Law Firm of Rochester, Mich., filed a motion on seeking to become lead plaintiff in the securities class action against American International Group.  The suit alleges that AIG misled investors as to the value of its Credit Default Swaps tied to the subprime mortgage market.

According to an article in Legal Newsline, the original complaint was filed in May by the Jacksonville Police and Fire Pension Fund, and the Ontario Teachers Pension Plan Board and Oakland County, Mich., are also moving to become lead plaintiff.  A copy of the motion is available here.

Read the Legal Newswire article