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Former derivatives employees sue AIG for $100M


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Former derivatives employees sue AIG for $100M

A group of 23 traders, analysts and managers who worked atAmerican International GroupInc.'s derivatives subsidiary sued the insurer after it bowed to publicpressure at the height of the financial crisis and allegedly denied them $100million in bonuses.

The case was filed in the U.K. in 2014 and came to light ata London court hearing on Oct. 7, Bloomberg News reported.

An AIG spokesman told the news outlet that the claimantswere part of an AIG business that lost billions of dollars in the financialcrisis and they have no rights under the deferred compensation plan.