University of California regents sue AIG over subprime mortgages

The Regents of the University of California are reportedly suing American International Group, or AIG , on the grounds that the insurer allegedly hid exposures to subprime mortgages. The Insurance.

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Subprime mortgage crisis documentary  · AIG had in March 2015 won court approval of a $970.5 million class action settlement over its exposure to subprime mortgages and credit default swaps, culminating in.

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The funds, including the Regents of the University of California, claim aig lied to investors from about 2006 to 2008 about the risks to which the company was exposed. One of the funds that opted.

Also making similar fraud claims against AIG is the Regents of the University of California. The Regents claim that the company concealed its subprime mortgage exposure between 2006 and 2008 and inflated its stock price, which caused the university system to suffer losses when shares of AIG dropped.

AIG is still feeling the pinch from subprime mortgages, with the University of California system now suing the insurer over losses on subprime mortgage investments.

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The Newport Beach, California-based firm sued AIG a week later in an Orange County state court, on behalf of more than 60 funds including the flagship Pimco Total Return, over securities it bought between 2006 and 2008. AIG then sued Pimco a month later, seeking a declaratory judgment that Pimco’s federal securities law claim was stale.

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Borrowers get some legal leverage in CFPB servicing rules University of California regents sue AIG over subprime mortgages AIG wins narrowing of shareholder lawsuits over 2008 bailout. opt-out shareholders claimed that AIG misled them about its subprime mortgage exposure and the risks that the insurer took in.Borrowers who submitted a valid.

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