AIG and others awarded $141m in Banc of America lawsuit settlement
(BestWire) - American International Group and a group of insurance and financial institutions have been awarded $141m from Banc of America Securities LLC in a lawsuit charging misrepresentation of risk in a 1998 securities sale.
The federal jury in New York awarded $85m in damages, and the balance in prejudgment interest, said Jeffrey Ross, a partner in the Minneapolis-based law firm of Anthony Ostlund Baer Louwagie &Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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