AIG reaches $1.64 billion settlement with regulators.
American International Group Inc. reached settlements totaling
$1.64 billion with federal and state authorities that it says resolved
outstanding litigation related to accounting, financial reporting and
insurance brokerage practices, as well as claims related to
workers' compensation premium taxes.
The settlements, with the U.S. Department of Justice, the U.S.
Securities and Exchange Commission, the office of New York state
Attorney General Eliot Spitzer and the New York State Insurance
Department, will result in an after-tax charge of $1.15 billion to
AIG's fourth-quarter 2005 earnings, the company said.
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