The SEC announced today that a federal court has approved the distribution of more than $843 million to investors in American International Group, Inc. from a Fair Fund that the SEC established after the company’s settlement of an SEC enforcement action for accounting fraud. The court-appointed distribution agent for the AIG Fair Fund estimates that checks will be mailed to more than 257,000 AIG investors within the next few months.
In 2006, AIG consented to and paid a final judgment of $800 million ($700 million in disgorgement and $100 million in penalties). Additional details about the AIG Fair Fund are available at the following website: www.aigsettlementadministration.com.
