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October 04, 2004

AIG may face SEC suit over press releases

American International Group said Monday it has been informed the Securities and Exchange Commission may bring a civil action against the insurance and financial-services company for allegedly providing "false and misleading information" in three press releases. The releases, one in July 2002 and two in late September 2004, were related to three transactions marketed by AIG Financial Products Corp. between a subsidiary of AIGFP and PNC Financial Services Group.

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Posted by Tom Troceen