In RE: AIG

Summary

CVN covered a previous hearing concerning a motion by 3rd party defendants Gen Re Corporation seeking dismissal of underlying litigation.

In this suit, stockholder plaintiffs seek to recover funds to make American International Group, Inc. (AIG) whole for the harm it suffered when it was revealed that the corporation’s financial statements were materially misleading. Also, these statements overstated the value of the corporation by billions of dollars, and plaintiffs aver these discrepancies were the consequence of intentional misconduct by AIG’s top executives.

Plaintiff Teachers Retirement System of Louisiana was represented by attorney Stuart Grant.