(Bloomberg) — New York Attorney General Eric Schneiderman asked a judge to dismiss American International Group Inc.’s lawsuit against the state’s top financial regulator, saying the insurer is trying to interfere with a probe of unlicensed overseas insurance sales.
“The investigation of AIG is not complete, and it remains to be seen what statutory violations, if any, would be charged,” Schneiderman said in a memo to U.S. District Judge Alison Nathan in Manhattan.
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AIG, based in New York, sued the Department of Financial Services and its superintendent, Benjamin Lawsky, in April to block the regulator from fining it for selling insurance overseas without a state license. The insurer claims the state law is unconstitutional, violates its free-speech rights and discriminates against out-of-state commerce.
AIG was rescued by taxpayers in a bailout that began in 2008 and swelled to $182.3 billion. The insurer finished repaying the U.S. in 2012.
John Diat, an AIG spokesman, declined to comment on Scheiderman’s request.