The Miller Law Firm, P.C. Announces Historic $970.5 Million Settlement in the AIG Consolidated 2008 Securities Litigation

  The Miller Law Firm, P.C. Announces Historic $970.5 Million Settlement in
  the AIG Consolidated 2008 Securities Litigation

Business Wire

ROCHESTER, Mich. -- August 4, 2014

The Miller Law Firm, P.C., headquartered in Rochester, Michigan, is pleased to
announce that historic $970.5 million settlements have been reached on behalf
of its client, the State of Michigan Retirement Systems, in the American
International Group, Inc. 2008 Securities Litigation class action lawsuit
pending in the U.S. District Court for the Southern District of New York. The
Miller Law Firm, P.C. is a lead counsel for The State of Michigan Retirement
Systems, which served as the sole court-appointed Lead Plaintiff in the case.

If approved by the Court, the total settlement amount will be among the
largest recoveries ever achieved in a securities fraud class action stemming
from the 2008 financial crisis. It would release claims of the members of the
putative class, which consists of all persons and funds that purchased
publicly issued common stock, corporate units, bonds, subordinated debentures
and notes of AIG from March 16, 2006 through September 16, 2008, and were
injured thereby.

E. Powell Miller stated that “This settlement represents an outstanding result
for the State of Michigan and other investors.”

After the close of fact discovery in 2012, the parties agreed to participate
in several mediation sessions through Retired U.S. District Judge Layn
Phillips that culminated in the settlement just one month after the Supreme
Court’s recent decision in Erica P. John Fund v. Halliburton.

Assuming preliminary approval of the settlement, a Notice and the Proof of
Claim form will be sent to members of the class who can be identified from
AIG’s records and will also be available online. Proceeds from the settlement,
if approved by the Court, will go the State of Michigan Retirement Systems and
a putative class that consists of all persons and funds that purchased
publicly issued common stock, preferred stock, bonds and notes of AIG from
March 16, 2006 through September 16, 2008, and were injured thereby.

Miller Law attorneys E. Powell Miller, Marc L. Newman, Jayson E. Blake, Justin
B. Vandeputte and M. Ryan Jarnagin prosecuted the action on behalf of the
plaintiffs.

In re American International Group, Inc. 2008 Securities Litigation, Master
File No. 1:08-cv-04772 (S.D.N.Y.)

Contact:

The Miller Law Firm, P.C.
E. Powell Miller
950 West University Drive, Suite 300
Rochester, MI 48307
(248) 841-2200
 
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