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Stock Market & Financial Investment News

News Breaks
January 8, 2013
17:58 EDTAIGAIG board to intends to consider Starr demands
American International Group confirmed that the AIG board of directors will consider, at a meeting scheduled for January 9, the demand served on the AIG board of directors on September 21, 2012, by Starr International Company as to whether AIG will take over, or allow Starr to continue to pursue, a lawsuit that Starr filed on behalf of itself and other AIG shareholders contesting the Constitutionality of certain terms of the U.S. government's rescue of AIG in September 2008. By its demand, Starr requests that the AIG Board authorize AIG to assume control of the claims that Starr is pursuing in AIG's name or allow Starr to pursue these claims on AIG's behalf. Starr's complaint seeks approximately $25B in damages. The board has three options with respect to the derivative claims asserted on its behalf: take over Starr's claims and prosecute them on its own; refuse the demand and prevent the claims from being prosecuted by Starr, a decision Starr is likely to challenge; or allow Starr to prosecute the claims on AIG's behalf. It is the AIG board's obligation and intention to consider seriously Starr's demand and respond to it in a manner that the board believes is in the best interest of the company, taking into account all the relevant circumstances.
News For AIG From The Last 14 Days
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June 24, 2015
17:57 EDTAIGWall Street applauds Senate giving go-ahead for 'fast track' trade powers
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June 17, 2015
16:21 EDTAIGAres, Varagon establish joint venture for senior secured loans
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June 16, 2015
17:49 EDTAIGStarr International to appeal AIG ruling, WSJ says
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16:22 EDTAIGStarr International to appeal court decision on AIG damages, CNBC says
10:01 EDTAIGOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AIG (AIG) downgraded to Hold from Buy at Deutsche Bank... Alumina (AWCMY) downgraded to Neutral from Outperform at Credit Suisse... Avalanche Biotechnologies (AAVL) downgraded on lack of catalysts at SunTrust... DealerTrack (TRAK) downgraded to Hold from Buy at Craig-Hallum... Greenbrier (GBX) downgraded to Hold from Buy at Stifel... Methode Electronics (MEI) downgraded to Neutral at Baird... Profire Energy (PFIE) downgraded to Hold from Buy at Maxim... Standard Pacific (SPF) downgraded to Neutral from Outperform at Credit Suisse... The Fresh Market (TFM) downgraded to Sell from Neutral at Northcoast... Twitter (TWTR) downgraded to Neutral at MKM Partners on stalled user growth... United Natural Foods (UNFI) downgraded to Hold from Buy at Argus... United Rentals (URI) downgraded to Underperform from Neutral at Macquarie.
08:51 EDTAIGCourt decision removes AIG overhang, says Bernstein
After a judge ruled that the government's bailout of AIG was illegal but awarded no damages, Bernstein says that AIG will most likely not have to pay any damages as a result of the lawsuit. The firm believes that the decision is a significant positive catalyst for the stock, It keeps a $65 price target and Outperform rating on the shares.
07:11 EDTAIGSurprise AIG ruling may make future bailouts unlikely, even if needed, NYT says
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06:39 EDTAIGAIG downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank analyst Joshua Shanker downgraded AIG to Hold citing valuation with the stock near his price target of $64. Yesterday's Starr court decision removes some overhangs, and the stock is "not without positive catalysts," Shanker tells investors in a research note. Nonetheless, the analyst thinks outperformance in the first half of 2015 has brought the stock around the levels where it will be trading at this time next year. Shares of AIG closed yesterday up 69c to $62.58.

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