American International Group Inc. agreed to pay $725 million to settle a long-running securities fraud lawsuit led by three Ohio public pension funds, in one of the largest class action settlements in U.S. history. AIG, which is nearly 80 percent …
Goldman Sachs Group Inc. agreed to pay $550 million to settle civil fraud charges over how it marketed a subprime mortgage product, ending months of negotiations that rattled the bank’s clients and investors. The U.S. Securities and Exchange Commission said …
The former head of the AIG unit that nearly crippled the insurer said the 2008 taxpayer bailout of up to $182 billion was too generous to customers like Goldman Sachs. Goldman Sachs, in turn, insisted it simply followed its agreement …
Goldman Sachs officials insisted demands for billions of dollars from insurer AIG ahead of a $182-billion government rescue package were based on legitimate market prices and denied gaming values for a massive payout. Members of the Financial Crisis Inquiry Commission …
The former head of the American International Group unit that precipitated a $182 billion bailout pledge from taxpayers stood by a 2007 proclamation that the insurer would not lose even a dollar on a portfolio of securities that included subprime …
Joseph Cassano, a former AIG executive who played a big role in bringing the giant insurer to its knees, will face-off next week with a U.S. panel investigating the causes of the financial crisis. Cassano will rub shoulders with a …
Marsh & McLennan Cos Inc agreed to sell investigations unit Kroll to a firm led by former Marsh CEO Michael Cherkasky for less than the insurance broker paid for Kroll six years ago. MMC said on Monday it plans to …
A substantial number of AIG’s Financial Products employees set to get some $195 million in retention payments no longer work with the bailed out insurer, sources familiar with the matter said Wednesday. This will be the latest round of retention …
A top executive at American International Group Inc. has resigned because of pay curbs imposed by the Obama Administration’s pay czar, the insurer said last week. Anastasia Kelly, AIG’s vice chairman for legal, human resources, corporate affairs and corporate communications, …
American International Group Inc.’s tough talking chief executive has reportedly threatened to quit, but the giant insurer, which is showing signs of life after its brush with bankruptcy last year, could do fine without him. Robert Benmosche threatened to quit …
