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Stock Market & Financial Investment News

News Breaks
April 4, 2014
07:21 EDTAIGAIG sues NY regulator over investigation of insurance marketing, Reuters says
AIG said it is suing the New York State Department of Financial Services and its superintendent, Benjamin Lawsky, to force them to back off a threatened expensive enforcement proceeding over possible violations of state law by a former unit, reported Reuters. Reference Link
News For AIG From The Last 14 Days
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July 22, 2014
06:43 EDTAIGMalaysia Airlines incidents rattle insurance market, NY Times says
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July 21, 2014
07:29 EDTAIGAIG settlement with BofA takes crisis claw back total up to $2B, FT says
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July 17, 2014
10:00 EDTAIGOn The Fly: Analyst Initiation Summary
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06:49 EDTAIGAIG initiated with an Outperform at RBC Capital
Target $64.
July 16, 2014
07:04 EDTAIGAIG to receive $650M in cash in Bank of America settlement
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07:02 EDTAIGAIG announces settlement with BofA on residential mortgage related disputes
American International Group (AIG) announced that it has reached a global resolution of its residential mortgage related disputes with Bank of America (BAC). The resolution includes its claims pending in New York and California federal courts related to the creation, offering, and sale of RMBS from which AIG and its subsidiaries suffered losses either directly on their own account or in connection with their participation in AIG’s securities lending program. The resolution also covers AIG’s objections to the $8.5 billion settlement of Countrywide’s mortgage repurchase obligations to various investors, as well as disputes concerning the issuance of mortgage guaranty insurance by AIG’s United Guaranty subsidiaries to Bank of America and Countrywide. Under the terms of the settlement, AIG will receive $650M in cash plus its pro rata share of whatever amount is ultimately paid out to investors in connection with the Countrywide repurchase settlement. In addition, the parties have agreed, subject to the approval of Fannie Mae, Freddie Mac and certain other mortgage holders, to resolve the outstanding mortgage guaranty claims disputes in accordance with agreed-to claims processes and payment formulae.
07:01 EDTAIGAIG announces settlement with BofA on residential mortgage related disputes
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