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Bank of America Seeks End to Lawsuit Tied to AIG Case

Bank of America Corp is urging a federal court to throw out an unusual lawsuit by its shareholders accusing it of concealing a $10 billion fraud case brought by American International Group Inc.

By Jonathan Stempel, Reuters | Updated on August 30, 2012

NEW YORK (Reuters) – Bank of America Corp is urging a federal court to throw out an unusual lawsuit by its shareholders accusing it of concealing a $10 billion fraud case brought by American International Group Inc.

The bank argued in papers filed late Tuesday in Manhattan federal court that shareholders should have known the insurer might sue, based on published reports several months earlier.

Bank of America also contended that shareholders may not have been harmed by the insurer’s lawsuit.

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