American Insurance Group is in trouble again. The Jacksonville Police and Fire Pension Fund, never shy about initiating big-time lawsuits, has initiated the first subprime mortgage-related class action against the troubled insurance group. The $1 billion pension fund, represented by lawyers at Bernstein, Litowitz, Berger & Grossman, has charged AIG with violating securities law by lying to investors about AIG's exposure in the subprime mortgage crisis.
Bernstein Litowitz Launches First Class Action Against AIG
The American Lawyer
May 23, 2008