Ohio funds reach $115m AIG settlement

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US - Maurice "Hank" Greenberg, the former chief executive of American International Group (AIG), and five other defendants agreed to pay US$115m to settle a class action suit brought by three Ohio pension funds.

The suit alleged the insurer defrauded investors through "anti-competitive practices, such as market division through the use of undisclosed contingent commissions and bid-rigging," and an accounti...

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