Accentuating the caveat emptor perspective with critical commentary on financial disclosure. I adopt a skeptical persona and look for chinks in the teflon coating of financial disclosure. My job is to identify financial warts. Perhaps a Black Swan. Disclosure: I do not hold positions in stocks mentioned for three trading days before or after blog post.
Friday, April 07, 2006
AIG Class Action Lawsuit
Stull, Stull and Brody announce a class action lawsuit against AIG. (NYSE:AIG) They claim that during the class action time frame brokers representing AIG sold mutual funds that participated in a revenue sharing program. Advisors did not disclose the close relationships that existed and therefore an enormous conflict of interest existed. More info at www.ssbny.com. What is interesting is the long time frame of the class action June 30, 2000 to June 8, 2005.