Participants in the American International Group employeesavings plan have filed a prospective class-action suit against theinsurer, alleging that illegal acts by management hurt theirinvestment.
The suit on behalf of beneficiaries of the AIG 401(k) savingsplan was announced by the Coral Springs, Fla.-based law firm MagerWhite & Goldstein LLP.
According to a complaint filed in New York's U.S. District Courtin Manhattan, AIG violated the Employee Retirement Income SecurityAct (ERISA), decreasing the value of AIG stock held by current andpast employees of AIG through the plan. AIG declined to comment onthe litigation.
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