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American International Group, Inc. Message Board

  • gang07748 gang07748 May 2, 2005 8:09 AM Flag


    Stock expected to go down today. And it will.

    "Updated: 06:14 AM EDT
    Wall St to open firm on cheaper oil, AIG seen hit
    By Marie Maitre, Reuters

    PARIS, May 2 (Reuters) - Oil prices down to $49 a barrel and fresh signs of merger activity could lift Wall Street on Monday, but American International Group could be hit by news it would restate more than four years of financial reports.

    The world's largest insurer by market value estimated that the restatement would slash $2.7 billion from its net worth, $1 billion more than its original $1.7 billion estimated reduction at the end of March.

    In a 10-page statement released on Sunday, AIG tallied a long list of improper actions that forced it to delay the filing of its annual 10-K report for 2004 with the U.S. Securities and Exchange Commission for a third time."

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63.68+0.53(+0.84%)Nov 27 1:00 PMEST