Counsel for the State of Ohio, Goodkind Labaton Appointed Lead Counsel In Suit Against American International Group, Inc. -AIG-.NEW YORK -- The Attorney General of Ohio has retained Goodkind Labaton Rudoff & Sucharow LLP LLP - Lower Layer Protocol , one of the country's premier national law firms that represent individual and institutional investors in class action, complex securities and corporate governance litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. , to represent three of the State of Ohio's retirement systems as lead plaintiff in a class action lawsuit class action lawsuit A lawsuit in which one party or a limited number of parties sue on behalf of a larger group to which the parties belong. For example, investors may bring a class action lawsuit against a brokerage firm that has actively promoted a tax against American International Group
American International Group, Inc. (AIG) (NYSE: AIG; TYO: 8685 ) is a major American insurance corporation based in New York City. , Inc. (AIG AIG addressee indicator group (US DoD) AIG American International Group, Inc AiG Answers in Genesis (religious group in defense of Scripture) AIG Artificial Intelligence Group AIG Australian Industry Group ). Litigation commenced against AIG after the company was implicated im·pli·cate tr.v. im·pli·cat·ed, im·pli·cat·ing, im·pli·cates 1. To involve or connect intimately or incriminatingly: evidence that implicates others in the plot. 2. in Eliot Spitzer's investigation of the insurance industry for alleged bid-rigging and other fraudulent behavior. "We intend to vigorously prosecute the case on behalf of all participants and beneficiaries affected by unfair practices in the insurance industry. Our goal is to help deter future violations of securities laws so that all shareholders are protected from fraudulent activities," stated Thomas A. Dubbs, attorney representing the State of Ohio. Goodkind Labaton also represents several other state pension funds for the State of New Mexico in other insurance fraud cases filed against The St. Paul Travelers Companies. Preliminary damage estimates for the Ohio Public Employees Retirement System, the State Teachers Employees Retirement System of Ohio, and the Ohio Police & Fire Pension Fund range between $75 and $80 million, while damages to the entire class could be billions of dollars. Counsel asks that any former employees of AIG with information relating to the true nature of its contingent-commission arrangements with Marsh & McLennan and other insurance brokers and their 'bid rigging' schemes contact Christopher J. Keller at 800-321-0476 and assist the Attorney General and State of Ohio in holding AIG insiders accountable for their actions. Goodkind Labaton is co-counsel with the Cleveland, Ohio law firm of Hahn Loeser & Parks. The class action is currently pending in the United States District Court United States District Court In the U.S., any of the 94 trial courts of general jurisdiction in the federal judicial system. Each state, as well as the District of Columbia and the Commonwealth of Puerto Rico, has at least one federal district court. for the Southern District of New York. For the Ohio Attorney General's announcement, please refer to http://www.ag.state.oh.us/press_releases/2005/pr20050215d.htm About Goodkind Labaton Lead Plaintiff is represented by Goodkind Labaton Rudoff & Sucharow LLP. The firm has been a champion of investor rights for over 40 years and has been recognized for its reputation for excellence by the courts. Goodkind Labaton was recently ranked fourth in total recoveries in 2004 among the top 50 plaintiffs' law firms by Institutional Shareholder Services (ISS ISS See Institutional Shareholder Services (ISS). ), the world's leading provider of proxy and corporate governance services. Notably, Goodkind Labaton recovered over half a billion dollars for its clients last two years. |
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