Trial Court Certifies Insurance Concealment Class Action

On August 15, 2012, the Circuit Court of Jefferson County, Alabama, granted the Plaintiffs’ motion to grant class certification in the Lauriello v. AIG/Caremark case. The class certification order has been appealed by the Defendants and a final appellate resolution of the certification issue is expected to take several months. The case involves allegations of concealment of insurance coverage available to compensate shareholders following the discovery of accounting fraud by Caremark’s predecessor, MedPartners.

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