On Thursday, AIG Financial Products filed the first in what could be a series of lawsuits against financial institutions in an effort to recoup billions of dollars that it lost because of alleged fraud. The suit, filed against ICP Asset Management and related entities in New York state court, was prepared by Quinn, Emanuel, Urquhart & Sullivan.
AIG’s plan to file these suits was first reported Wednesday by Louise Story at the New York Times. According to the Times, AIG may also sue Goldman Sachs, Bank of America, JPMorgan, and Morgan Stanley.
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