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American International Group headquarters in New York. Photo: Ryland West/ALM

AIG Inc. has agreed to forfeit claims to more than $400 million in foreign tax credits and to pay a 10% penalty to settle a long-running tax shelter lawsuit related to seven cross-border transactions from the mid-1990s, the Manhattan U.S. Attorney’s Office announced on Friday.

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Tom McParland

Tom McParland of New York Law Journal can be contacted at [email protected] Follow him on Twitter @TMcParlandALM.

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