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State of Oregon vs. American International Group, Inc.

Tim DeJong and Jen Wagner obtained an $8 million settlement on behalf of the Oregon Public Employees Retirement Fund (OPERF) in securities fraud litigation against American International Group, Inc. (AIG). The lawsuit arose out of AIG’s 2005 and 2006 restatements of its financial results in which AIG conceded that it had misled investors about the company’s financial performance. When the restatements became public, OPERF and other investors suffered significant losses on their investments in AIG.