The lawsuit filed by AIG (AIG +0.00%) against Bank of America (BAC +0.21%) has been off-course for some time while the parties fight over whether the insurer retained the rights to sue B of A. On the line is a $10 billion suit in which AIG could recover some of the losses it incurred from bad mortgage bonds issued by Countrywide and Merrill Lynch. In this video, Motley Fool contributor Jessica Alling discusses the new development and what investors should look for going forward.
AIG's New Ammunition Against Bank of America
By Jessica Alling – Apr 3, 2013 at 9:56AM
NYSE: BAC
Bank of America
Market Cap
$396B
Today's Change
(0.21%) $0.11
Current Price
$53.56
Price as of November 3, 2025 at 4:00 PM ET
In a lawsuit that could turn the tides for AIG, new testimony gives the insurer new hope.
About the Author
After receiving the prestigious, if not tongue-in-cheek, "Future Bloodsucker of America" award for winning a stock market challenge in middle school, Jessica knew that her future lay in finance. But when her Finance degree's P/E ratios and other metrics weren't enough, she added a degree in English to her repertoire. Though some questioned the combination, her work with the Fool has clarified the method to her madness to those that couldn't see the connection before. Oh, and she still has that award framed in her office.