The US insurance giant AIG has agreed to pay $725m (£474m) to settle a
long-running fraud case against it.
The settlement is likely to be one of the biggest in US history, following a
class action lawsuit led by three Ohio pension funds.
They alleged that AIG had engaged in stock price manipulation, anti-competitive
behaviour and accounting fraud between 1999 and 2005.
That, they say, resulted in shareholders losing millions, reports the BBC.
The court now needs to give its approval ...
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Added July 17, 2010
from Businessday Nigeria