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AIG investors’ billion-dollar subprime settlement OK’d

American International Group Inc. won court approval of a $970.5 million settlement with investors who accused it of misleading them about risks tied to subprime mortgages.

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(Bloomberg) — American International Group Inc. won court approval of a $970.5 million settlement with investors who accused the insurer at the onset of the financial crisis of misleading them about risks tied to subprime mortgages.

The investors, urging a federal judge to approve the accord, called it one of the largest securities class action recoveries stemming from the 2008 financial crisis.

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