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American International Group, Inc. Message Board

  • fabricone1 fabricone1 Nov 5, 2013 3:22 PM Flag

    In August AIG filed a suit against BAC for $10.5 billion

    For fraud and misrepresentation of mortgage data that was very costly to AIG. No damages will have to proved they are self evident. The proving of the fraudulent transactions will not be an untenable burden for the lawyers and BAC knows it as they have settled other cases with similar cause of action. I do not believe it will go to trial but I do believe they can see as much as a $4billion settlement in 2014. Also I read that they are in negotiations with MS and perhaps some others for similar cause of action. Very nice tailwind for 2014 along with the Leasing company disposition finalization. There is a pretty strong wind at the back between now and 2015.

    Sentiment: Strong Buy

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