AIG AND ERISA FRAUD CLAIMS

Free consultation on Retirement Plan Losses

1. AIG ERISA Litigation

Claims have been filed against AIG: 

In Re AIG ERISA Litigation was filed in the United States District Court for the Southern District of New York on behalf of Plaintiffs and a class (the "Class") of all persons who were participants in or beneficiaries of the AIG Incentive Savings Plan, the American General Employees’ Thrift and Incentive Plan, the American General Agents’ and Managers’ Thrift Plan, and the CommoLoCo Thrift Plan ("the Plans").  The Consolidated Complaint alleged that during the Class Period, the Defendants breached their fiduciary duties to Plaintiffs and the Class members by:

failing to prudently and loyally manage the Plans and the Plans’ assets;
failing to provide participants with complete and accurate information regarding AIG stock sufficient to advise participants of the true risks of investing their retirement savings;
failing to properly monitor the performance of their fiduciary appointees, and remove and replace those whose performance was inadequate;
breaching the duty to avoid conflicts of interest;
violating the co-fiduciary liability; and
knowingly participating in a breach of duty. erisafraud.com