Labaton Sucharow LLP Announces Fairness Hearing in Connection with In re American International Group, Inc. Securities Litigation

Oct 07, 2010, 09:30 ET from Labaton Sucharow LLP

NEW YORK, Oct. 7 /PRNewswire-USNewswire/ -- TO: ALL PERSONS OR ENTITIES WHO PURCHASED OR OTHERWISE ACQUIRED PUBLICLY-TRADED SECURITIES ISSUED BY AMERICAN INTERNATIONAL GROUP, INC. DURING THE PERIOD FROM OCTOBER 28, 1999, THROUGH APRIL 1, 2005, INCLUSIVE, (THE "CLASS PERIOD") AND WHO WERE DAMAGED THEREBY.

YOU ARE HEREBY NOTIFIED that the Court has preliminarily approved a proposed settlement in the above-captioned action (the "Action") between Lead Plaintiff and one of the defendants, PricewaterhouseCoopers LLP, that would create a Cash Settlement Account of $97.5 million to resolve certain claims asserted in the Action.  A hearing will be held before the Honorable Deborah A. Batts, in the United States District Court for the Southern District of New York, United States Courthouse, 500 Pearl Street, New York, New York 10007 at 3:00 p.m. on November 30, 2010 to determine whether the proposed settlement should be approved by the Court as fair, reasonable and adequate, to consider certification of the proposed Settlement Class, to consider the application of Lead Plaintiff's counsel for attorneys' fees and reimbursement of litigation expenses and to consider the application of Lead Plaintiff for the reimbursement of costs and expenses.  The Court may change the date of the hearing without providing additional notice.

IF YOU PURCHASED OR ACQUIRED AIG SECURITIES DURING THE CLASS PERIOD DESCRIBED ABOVE, YOUR RIGHTS WILL BE AFFECTED BY THE SETTLEMENT AND YOU MAY BE ENTITLED TO SHARE IN THE SETTLEMENT IF YOU SUBMITTED A PROOF OF CLAIM FORM BY JANUARY 28, 2009.  If you have not yet received the Notice of Proposed Settlement, Motion for Attorneys' Fees and Expenses Award and Fairness Hearing (the "Notice") and/or Proof of Claim Form, you may obtain copies of these documents by contacting: In re American International Group, Inc. Securities Litigation- PwC, c/o Rust Consulting Inc., (888) 356-0263.  Copies of the Notice and Proof of Claim Form may also be downloaded from: www.AIGSecuritiesLitigationPwCSettlement.com  or www.labaton.com.

The deadline to submit a claim and request exclusion has passed.  Any objection to the proposed Settlement, Plan of Allocation, application for attorneys' fees and reimbursement of litigation expenses or the cost and expense application of Lead Plaintiff must be filed with the Court and delivered to counsel for the parties no later than November 9, 2010 in the manner and form set forth in the Notice.

PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE.

DATED:  September 15, 2010

BY ORDER OF THE UNITED STATES DISTRICT COURT

SOUTHERN DISTRICT OF NEW YORK

SOURCE Labaton Sucharow LLP



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