UPDATE 1-AIG in $40 mln accord over crisis-era retirement plan losses

April 23, 2015 9:12 PM

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NEW YORK, April 23 (Reuters) - American International Group Inc has reached a $40 million settlement of claims it should not have let employees invest their retirement savings in company stock as the insurer headed into the 2008 financial crisis, which nearly caused its collapse.

The preliminary settlement was filed on Thursday in Manhattan federal court, which must approve the accord.

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