Federal judge grants 3 Ohio pension funds class-action status over claims against AIG

3 Ohio pension funds get group status in AIG claim

COLUMBUS, Ohio — A federal judge is allowing shareholders suing insurance giant American International Group to proceed as a single class.

U.S. District Court Judge Deborah Batts of the southern District of New York on Monday granted three Ohio state pension funds and shareholders across the country class-action status against AIG.

The lawsuit filed in 2004 is seeking damages for investors who bought AIG securities between Oct. 28, 1999, and April 1, 2005.

The Ohio Public Employees Retirement System, the State Teachers Retirement System and the Ohio Police & Fire Pension Fund are the lead plaintiffs in the lawsuit.

Former AIG chief executive officer and board chairman Maurice “Hank” Greenberg and others agreed in August to pay $115 million to settle fraud claims as part of the lawsuit.