AIG - Legal Cases

  • 2022 - LC - In re: AIG FINANCIAL PRODUCTS CORP
    • Case 22-11309 Doc 2 Filed 12/14/22 Page 1 of 62
    • DECLARATION OF WILLIAM C. KOSTUROS, CHIEF RESTRUCTURING OFFICER OF THE DEBTOR, IN SUPPORT OF CHAPTER 11 PETITION AND FIRST DAY PLEADING - 62p
  • 2011 - LC - American International Group, Inc. et al v. Bank of America Corporation et al
    • CountryWide and AIG v Bank of America
    • 2:11-cv-10549
    • California Central District Court
    • 12/21/2011 - 07/18/2014
    • D254 - Memorandum of Points and Authorities In Further Opposition To Defendants’ Motion To Dismiss - 45p
      • p18 - Mr. Swift was responsible for communications with AIG’s state insurance regulators, id. 99:13–18, and would have disclosed a transfer of tort claims to the regulators because “it would have just been a significant part of the overall transaction we would have talked about.” Id. 102:11–23. Yet, as discussed more fully below, infra at p. 27, there was no mention of such claims.   - [Christopher Swift]
  • 2008 0411 - LC - American International Grou Inp v. Maurice R. Greenberg and Howard I. Smith
    •  EFiled: Apr 11 2008 8:52PM EDT - Transaction ID 19383511 - Case No. 769-VCS - First Amended Combined Complaint - Third Amended Consolidated Stockholders’ Derivative Complaint - 217p
  • - LC - In re Countrywide Financial Corp. Mortgage-Backed Securities Litigation
    • Securities Lending, RMBS
    • Court: United States District Court, C.D. California.
      • 943 F. Supp. 2d 1035 (C.D. Cal. 2013)
  • - LC - American International Group, v. Bank of America Corporation
    • 12-1640
    •  AIG SECURITIES LENDING CORPORATION
  •  - LC - Pacific Life Funds and Pacific Select Fund vs AIG
    • 12-CV-6071
    • Complaint for Violations of The Federal Securities Laws - 241p
      • AIGFP History
      • Newspaper Article References
      • Related Case: 1:08-cv-04772-LTS-DCF
  • - LC - Am. Int'l Grp., Inc. v. Bank of Am. Corp. (“ AIG Appeal,”)
    • 712 F.3d 775 (2d Cir.2013)
  • AIG I, 820 F.Supp.2d at 558
  • AIG II, 2011 WL 6778473
  •  20xx - LC - American International Group, Inc. ERISA Litigation II - 1:08-cv-05722
    • 2012 - Document 137 - Consolidated Second Amended Complaint - 230p
      • Eric Dinallo, New York Insurance Commissioner, Doug Slape, Chief Financial Analyst of the Texas Department of Insurance,
      • Larry Fink, BlackRock - "in all my years" , "disregard for managing money"
    • Document 219 - Order Denying Motion to Dismiss - 2p 
    • Document 266 - Final Order- 2p 
  • 2019 1206 - vs AIGFP -  [link]
    • 1. The plaintiffs—46 former employees of AIG Financial Products Corp. ("AIG FP"), a wholly-owned subsidiary of American International Group, Inc. ("AIG")—bring this action to recover millions of dollars in damages caused by AIG FP's breaches of contract and violations of Connecticut labor law.
  • AMERICAN INTERNATIONAL GROUP, INC., CONSOLIDATED DERIVATIVE. C.A. No. 769-VCS LITIGATION
    • DEFENDANT MAURICE R. GREENBERG’S ANSWER AND AFFIRMATIVE DEFENSES TO THE AMENDED COMPLAINT AND THIRD-PARTY COMPLAINT - 69p
    • OPINION - 109p
  •  State of New York v Greenberg
    • APL-2015-00172, New York County Clerk’s Index No. 401720/05
    • JOINT BRIEF FOR DEFENDANTS-APPELLANTS - 139p
  • 2008 0423 - LC - Oakland v AIG FP and SunAmerica, etc (outside of AIG)
    • Case 3:08-cv-02116-MMC Document 1 Filed 04/23/2008 - 43p
    • GICs, Oakland alleges a nationwide conspiracy among Defendants to rig bids, etc, 
    • during the period from January 1, 1992 through December 31, 2007.
  • In RE: Municipal Derivatives Antitrust Litigations - MDL No. 1950
    • Joint Second Amended Class Action Complaint - 104p
      • THIS DOCUMENT RELATES TO:
        • City of Oakland v. AIG Finan. Prods. Corp., et aI., 08 Civ. 6340 (VM);
        • County of Alameda v. AIG Finan. Prods. Corp., et al., 08 Civ. 7034 (VM);
        • City of Fresno v. AIG Finan. Prods. Corp., et al., 08 Civ. 7355 (VM);
        • Fresno County Financing Authority v. AIG Finan. Prods. Corp., et aI., 09 Civ. 1199 (VM)
  • Oppenheimer v AIG
  • American International Group, Inc. v. New York State Department of Financial Services et al
    • Case 1:14-cv-02355-AJN
  • Starr Int'l Co. v. Fed. Reserve Bank of N.Y.
    • 11 Civ. 8422 (PAE)
    • 11-19-2012
  • Starr Int'l Co. v. United States
    • No. 11-779C
    • 02-10-2012
  • Pacific Investment Management Co. LLC v. American Int'l ...
  • Katzel v. American International Group, Inc. (1:20-cv-07220) - District Court, S.D. New York 
  • General Electric Pension Trust et al. v. American International Group et al.
    • In connection with the securities fraud class action titled In re American International Group, Inc. 2008 Securities Litigation, No. 1:08-cv-04772 (S.D.N.Y.), Atara Twersky, Esq. (AF&T) filed direct actions against AIG and others on behalf of General Electric Pension Funds and Lord Abbett & Co. LLC mutual funds, respectively, following their election to opt-out of the class settlement.
      • See Lord Abbett Affiliated Fund Inc. et al. v. American International Group Inc. et al., No. 15-cv-774-LTS-DCF (S.D.N.Y. 2015); see also General Electric Pension Trust et al. v. American International Group et al., No. 15-cv-957-LTS-DCF (S.D.N.Y. 2015).

  • 2012 - LC - Pacific Life Funds and Pacific Select Fund vs AIG Complaint for Violations of The Federal Securities Laws - 12-CV-6071

    • Complaint For Violations Of The Federal Securities Laws - Demand For Jury Trial - 241p

      • (p1) - The allegations in this Complaint are drawn primarily from the Consolidated Class Action Complaint filed in In re American International Group Inc 2008 Securities Litigation Master File No 08-cv-4772-LTS Plaintiffs bring the claims asserted herein in their individual capacities only and therefore opt out of the putative class with regard to those claims.
      •  (p156-157) - 359 The statements made in the 2007 Form 10-K press release of February 28 2008 and conference call of February 29 2008 were materially false and misleading in at least the following respects.
        • As described above Defendants knew that AIG faced significant risk of being subject to tens of billions of dollars of additional collateral calls arising from it CDS portfolio Defendants also knew that the overwhelming portion of the cash collateral received from borrowers under AIGs securities lending program was invested in RMBS and other asset backed securities that such securities were becoming increasing illiquid and that demands by borrowers for the return of their cash collateral would severely strain AIGs liquidity
        • As result the following statements among others touting AIGs financial strength and capital position were materially false and misleading:
          1. with diverse portfolio of global businesses strong capital base and outstanding talent AIG has the ability to absorb the current volatility Sullivan February 28 press release
          2. AIG has the financial strength to meet our performance goals and build long-term shareholder value Sullivan February 28 press release
          3. AIG is well positioned to grow shareholder value despite the current turbulent environment Sullivan February 29 investor call and
          4. AIG has strong capital base and we are not raising additional capital Sullivan February 29 investor call Indeed less than three months later AIG would announce equity offerings of $12.5 billion which would have severe impact on its earnings per share among other metrics. 
  • 2009 - LC - Altus Finance S.A., et al., Petitioners v. SAFG Retirement Services, Inc., fka AIG Retirement Services, Inc.
    • US Supreme Court - No. 09-1578 - [link]
    • Docketed: June 28, 2010
      • Lower Ct: United States Court of Appeals for the Ninth Circuit
      • Case Nos.: (07-56019)
    • Decision Date: February 9, 2010
    • Rehearing Denied: March 26, 2010
  • 2011 - LC - AIG Ret. Servs. Inc. v. Altus Fin. S.A.,
    • AIG Retirement Services, Inc. (formerly known as SunAmerica Inc.)
    • Case No. CV 05-1035-JFW (CWx) (C.D. Cal. Nov. 8, 2011)
    • Court: UNITED STATES DISTRICT COURT CENTRAL DISTRICT OF CALIFORNIA WESTERN DIVISION 
    • Date published: Nov 8, 2011
  • 2012 - LC - Oppenheimer v AIG
    • Case 1:12-cv-00523-UA
    • Document 1 - Filed 01/20/12 - lexmarc.us/Documents/OppenheimerAIGComplaint.pdf-222p
    • 21. On Thursday, September 11, 2008, AIG executives brought in bankers from JP Morgan and a Blackstone consulting group, who determined that AIG would need at least $40 billion.
      • However, on Sunday morning, September 14, AIG’s outside advisers discovered that the Company’s securities lending business needed a separate injection of as much as $20 billion.
      • As a result, an offer of a $20 billion lending facility that the New York State Insurance Superintendent, Eric Dinallo, had considered establishing for the benefit of AIG became moot since it was becoming clear the Company needed at least $60 billion of financing.
  • labaton.com/cases/in-re-american-international-group-inc-securities-litigation
  • In re American International Group, Inc. Securities Litigation - Settled: September 11, 2013
    • In one of the most complex securities cases in history, the Firm secured over $1 billion in total settlements, including a landmark $725 million with AIG regarding allegations of bid rigging and accounting fraud.
    • Gen Re Settlement: Granted Final Approval on September 11, 2013
    • Starr Settlement: Granted Final Approval on April 11, 2013
    • Company Settlement: Granted Final Approval on February 3, 2012
    • PwC Settlement: Granted Final Approval on December 2, 2010
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