AIG 2008 Securities Settlement
- Obtain information (to include the claim form) in regards to the AIG, Inc. 2008 Securities lawsuit
- The case is entitled In re American International Group, Inc. 2008 Securities Litigation and was held in the United States District Court for the Southern District of New York
The total settlement in the AIG case was a shade over $970 million US Dollars and involved Michigan Public School Employees. The AIG 2008 Securities Lawsuit was heard before the honorable Laura Taylor Swain and AIG agreed to settle in order to avoid a long, drawn out trial. Legal experts covering the case however gave AIG a better than 50/50 chance to win the case if they saw it through to completion (AIG could not be reached for comment).
AIG Lawsuit Notes
- The class members claimed that AIG failed to disclose the full extent in which they were exposed to the U.S. subprime residential mortgage market (which went south in a hurry in 2007/2008)
- Class members are defined as anyone who purchased stock in AIG from March 16, 2006 through September 16, 2008
- Class members may include “who purchased or acquired certain AIG securities in or traceable to a public offering during the Class Period”
- The case took almost 6 years of litigation
- This AIG lawsuit is one of the largest (in terms of dollars and number of class members) coming from the great 2008 financial crisis
A claim form can be obtain online (i.e. aig2008securitiessettlement.com) or by writing to AIG, Inc. 2008 Securities Settlement Claims Administrator, c/o Gilardi & Co. LLC, P.O. Box 8040, San Rafael, CA 94912-8040 or by calling 1-888-283-6985 (or outside the U.S. and Canada call 1-317-324-0388).
All claim forms were required to be filed by 5/5/15. Anyone who has not yet filed a claim will most likely NOT be included in the settlement. The terms of the settlement related to the AIG 2008 financial crisis were made final on 3/20/15.