Pinault’s Artemis to Settle AIG Suit for $62.5 Million
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French billionaire Francois Pinault’s holding company Artemis SA agreed to pay American International Group Inc.’s SunAmerica unit $62.5 million to settle a lawsuit over an investment in a California insurer.
AIG Retirement Services, as SunAmerica is now known, and Artemis yesterday filed a request for U.S. District Judge John Walter in Los Angeles to approve the settlement, The other defendants in the case, Credit Lyonnais SA and MAAF Assurances SA, already settled with AIG.