NU Online News Service, July 8, 3:26 p.m. EDT
Standard & Poor's lowered its opinion of American International Group after a jury found the company had no claim to more than $4 billion in damages it sought from a company headed by Maurice "Hank" Greenberg.
"We still view AIG's underlying fundamentals as weak and under pressure, and believe AIG's loss in its lawsuit vs. former [AIG] CEO Hank Greenberg is another negative for the shares," said Catherine Seifert, insurance analyst with S&P's equity research, as the rating agency changed its opinion from "hold" to "sell."
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