Lawyers

• Former AIG CEO Hank Greenberg Reaches $9.9 Million Settlement In The Accounting Fraud Case

  Former CEO of AIG Hank Greenberg and CFO Howard Smith have agreed with the $9.9 million settlement with the New York Attorney General office.

• Pimco is Cleared to Pursue Legal Action Against AIG in California

  New York federal judge has cleared a way for Pacific Investment Management Co. to pursue lawsuit against AIG in California. Meanwhile, Pimco also faced another legal battle with former co-founder Bill Gross.

• AIG units to pay $9.5 million settlement over expensive mutual fund shares

  The three AIG units that were involved in practicing confllict of interest towards its clients are asked to pay $9.5 million. These units have drove their clients into purchasing expensive mutual fund shares in order to collect more fees.

• Update: AIG, Coventry First say both parties settled the dispute over “life settlements”

  AIG said that it had decided to settle its $2 billion lawsuit. It will allegedly resolve the accusations of Coventry First that it overcharged the life insurance policies acquired from elderly people.

• Judge rules for ex-AIG CEO Greenberg over 2008 bailout, but no damages

  A U.S. judge on Monday awarded no damages to American International Group Inc (AIG.N) shareholders led by former CEO Maurice "Hank" Greenberg in their lawsuit against the U.S. government, despite finding that the U.S. Federal Reserve exceeded its authority in the insurer's 2008 bailout.

• Senator Warren probes perks offered to annuities brokers

  A high-profile U.S. senator said on Tuesday she has launched an investigation into 15 major annuity providers amid concerns about the perks they offer to brokers who peddle the products to retirees.

• AIG investors' $970.5 million settlement wins U.S. court approval

  American International Group Inc (AIG.N) shareholders won approval on Friday of a $970.5 million settlement resolving claims they were misled about its subprime mortgage exposure, leading to a liquidity crisis and $182.3 billion in federal bailouts.

• Companies sign secret tax deals with Luxembourg: report

  More than 300 companies, including PepsiCo Inc (PEP.N), AIG Inc (AIG.N) and Deutsche Bank AG (DBKGn.DE), secured secret deals from Luxembourg to slash their tax bills, the International Consortium of Investigative Journalists (ICIJ) reported, quoting leaked documents.

• AIG to pay $35 million fine: New York insurance regulator

  Insurer American International Group will pay a $35 million penalty for violations related to former subsidiaries that solicited insurance business in New York without a license, the New York State Department of Financial Services said on Friday.

• Ex-Fed Chair Bernanke: wanted to stop AIG default, not punish firm

  Former Federal Reserve Chairman Ben Bernanke said on Friday that he was hesitant to bail out American International Group (AIG.N) in 2008, but he was primarily concerned that the insurer "was on the brink of default" and not about punishing AIG.

• Ex-Treasury Secretary Paulson says AIG bailout was punitive

  Former Treasury Secretary Henry "Hank" Paulson told a packed courtroom on Monday that AIG shareholders were singled out for punishment as part of the U.S. government's attempt to contain the contagion of the 2008 financial crisis.