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AIG, Treasury offering 300M shares worth $9B
Headline Legal News |
2011/05/13 09:29
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Bailed-out global insurance company American International Group Inc. and the federal government are offering to sell a total of 300 million AIG shares to the public.
The stock sale would be a big step by the government toward disentangling itself from the company. The government stepped in to rescue AIG from collapse with $182 billion in 2008 — the biggest bailout of the financial crisis.
AIG and the government didn't specify a price for the shares in a regulatory filing on Wednesday. But 300 million shares of AIG were worth about $8.89 billion at Tuesday's closing price of $29.62.
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Investment Fraud Litigation |
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Securities fraud, also known as stock fraud and investment fraud, is a practice that induces investors to make purchase or sale decisions on the basis of false information, frequently resulting in losses, in violation of the securities laws. Securities Arbitration. Generally speaking, securities fraud consists of deceptive practices in the stock and commodity markets, and occurs when investors are enticed to part with their money based on untrue statements.
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