Feb. 18 at 3:14 p.m.
Filed under:
Banking,
Insurance,
Litigation,
Mortgages,
Updated
By Reuters
Allstate Corp. sued Citigroup Inc. and Deutsche Bank AG Friday, accusing the banks of misrepresenting risks on more than $385 million of mortgage securities it bought.
Allstate, the largest publicly traded U.S. home and auto insurer, has filed similar lawsuits against Bank of America Corp. and JPMorgan Chase & Co. Get the full story »
Jan. 18 at 3:48 p.m.
Filed under:
Banking,
Government,
Insurance
By Reuters
AIG chose Bank of America, Deutsche Bank AG, Goldman Sachs Group Inc. and JPMorgan Chase & Co. to manage the sale of the government’s 92 percent stake in the insurer, a person familiar with the situation said on Tuesday.
Sources have said that the process likely will begin with a secondary offering in May that could be one of the 10 largest in history. The government is expected to sell at least $15 billion in AIG shares then, and the company is expected to sell another $3 billion.
