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 has represented the fund on securities litigation in the past, says Gerald Silk, the lead Bernstein partner on the matter.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]