Daily Archives: March 23, 2015, 8:02 am

A.I.G. to Pay Nearly $1 Billion to Settle Class-Action Suit Brought by Shareholders – NYTimes.com

Shareholders of the insurance giant American International Group have won approval of a $970.5 million settlement resolving claims that they were misled about its subprime mortgage exposure, leading to a liquidity crisis and $182.3 billion in federal bailouts. A.I.G. to Pay Nearly $1 Billion to Settle Class-Action Suit Brought by Shareholders – NYTimes.com

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ASIC welcomes seven-year jail term

Australian Securities and Investments Commission chairman Greg Medcraft said he was pleased with the sentence, even if it was short of the maximum 10-year term. “It’s the longest sentence in insider trading history,” he told reporters on Monday. “We’re pleased with the outcome. via ASIC welcomes seven-year jail term — News.com.au

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