Why AIG (AIG) Stock Is Higher Today

NEW YORK (TheStreet) -- Shares of American International Group (AIG) are up 2.45% to $53.95 in pre-market trade after the insurance company agreed to pay $960 million to resolve a shareholder lawsuit that had demanded compensation for the collapse in the insurance group's value when it was bailed out by the Treasury Department and Federal Reserve in 2008, the Financial Times reports.

The class action suit was filed in 2008, shortly after AIG was rescued as it ran up huge losses on insurance written on plunging mortgage securities, the Times said.

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AIG ChartAIG data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

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