ROTHSTEIN v. AMERICAN INTERN. GROUP, INC.

Docket Nos. 14-4067(L), 14-4603(con) August Term, 2015.

837 F.3d 195 (2016)

Sharyn ROTHSTEIN, Marisa Rothstein, Mollye Rothstein, Objector, Alan Rothstein, Objector, San Francisco Employees' Retirement System, Robert D. Jaffee, as Trustee of the Robert D. Jaffee Revocable Trust, Robert D. And Phyllis A. Jaffee Family Foundation, Robert D. Jaffee Ira Rollover, Anne E. Flynn, on behalf of herself and all others similarly situated, Michael Cassidy, on behalf of himself and all others similarly situated, Lisa M. Crouch, on behalf of herself and all others similarly situated, Robert J. Casey, II, on behalf of himself and all others similarly situated, Eugene Olson, Joseph Scuilla, Stephan Frank, on behalf of himself and all others similarly situated, Jerome Noll, on behalf of himself and all others similarly situated, Public Employees' Retirement System of Mississippi, Michael Feder, on behalf of himself and all others similarly situated, Public Employees Retirement Association of New Mexico, Plaintiffs, Ohio Police and Fire Pension Fund, State Teachers Retirement System of Ohio, Ohio Public Employees Retirement System, Plaintiffs-Appellees, v. AMERICAN INTERNATIONAL GROUP, INC. Incentive Savings Plan, American General Agents and Managers Thrift Plan, American International Group, Inc. Retirement Plan, AIG Insurance Company-Puerto Rico Capital Growth Plan, FKA Chartis Insurance Co. Puerto Rico Capital Growth Plan, Evercore Trust Company, N.A., as independent fiduciary of the Plans, Appellants, American International Group, Inc., Howard Smith, John A. Graf, John Houldsworth, Wachovia Securities, LLC, Richard Napier, AXA Financial, Inc., Eli Broad, Evan Greenberg, Union Excess Reinsurance Co., Richmond Insurance Co., Ltd., Pricewaterhousecoopers LLP, Michael L. Murphy, Morgan Stanley, Merrill Lynch & Co., Inc., JPMorgan Chase & Co., Goldman Sachs & Co., Citigroup Global Market F/K/A Salomon Smith Barney, Michael J. Castelli, C.V. Starr & Co., Inc., Maurice R. Hank Greenberg, Corinne P. Greenberg, Starr International Company, Inc., General Reinsurance Corporation, Ronald Ferguson, Patricia R. McCann, Donald P. Kanak, Richard A. Grosiak, Axel I. Freudmann, Frank J. Hoenemeyer, Christian Milton, Martin J. Sullivan, Thomas Tizzio, Howard Smith, Defendants.

United States Court of Appeals, Second Circuit.

Decided: September 20, 2016.


Attorney(s) appearing for the Case

H. DOUGLAS HINSON , ( Richard S. Siegel , Jonathan G. Rose , on the brief), Alston & Bird LLP, Washington, D.C. for Appellants.

LOUIS GOTTLIEB , ( Thomas A. Dubbs , Nicole M. Zeiss , on the brief) Labaton Sucharow LLP, New York, NY for Plaintiffs-Appellees.

Lorie E. Almon and James Randolph Napoli , Seyfarth Shaw LLP, New York, NY for amicus curiae American Benefits Council in support of Appellants.

Before: POOLER and SACK, Circuit Judges, and FAILLA, District Judge.


This case concerns a securities class action settlement agreement with American International Group, Inc. ("AIG"). Like many disputes over finite settlements, this case concerns who gets a "slice" of the settlement "pie." Appellants American International Group, Inc. Incentive Savings Plan (the "AIG ISP"), American General...

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