NEW YORK, June 9, 2008 (LAWFUEL) — A month after American
International Group, Inc. (AIG) announced a record quarterly net loss
of close to $8 million, AIG’s employees and investors continue to face
significant losses and uncertainty. On Friday, AIG shares continued
their now year-long slide to close at a new low of $33.93 per share.
The market price of AIG shares has declined $38.68 per share since June
19 of last year, or 53.27%.
The record quarterly loss was triggered by a $9.11 billion write-down
on a credit derivatives portfolio. Mounting losses on the company’s
assets and insurance products tied to the residential mortgage market
continue to hurt employees and investors’ holdings in AIG.
Scott+Scott is investigating possible claims on behalf of AIG employees
and pension plan participants, including 401(k) participants, against
the company for alleged violations of the Employee Retirement Income
Security Act (ERISA). If you are an employee of AIG and wish to discuss
this notice or your rights, please contact Scott+Scott
(scottlaw@scott-scott.com, (800) 404-7770, (860) 537-5537 or visit the
Scott+Scott website, http://www.scott-scott.com) for more information.
There is no cost or fee to you.
Scott+Scott is a law firm with significant experience in prosecuting
investor and employee class actions. The firm currently is litigating
major securities, antitrust and employee retirement plan actions
throughout the United States and represents pension funds, foundations,
individuals and other entities worldwide.
