COLUMBUS, Ohio — American International Group Inc. and some of its directors and officers have agreed to a $725 million settlement to resolve allegations of wide-ranging fraud laid out in a class action suit led by three Ohio pension funds.
Ohio Attorney General Richard Cordray said Friday that the latest figure will combine with previous AIG settlements reached with secondary defendants to pay about $1 billion to shareholders, including pensions representing firefighters, police, teachers, librarians and others.
N.Y. law bars saving 'stop-and-frisk' data
NEW YORK — Gov. David Paterson signed legislation Friday that would stop New York City police from storing the names of hundreds of thousands of people who were stopped and frisked without facing charges, calling the practice "not a policy for a democracy."
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Paterson signed the law over vehement objections of New York City's mayor and police commissioner, who said the city was losing a key crime-fighting tool.
"This law does not in any way tamper with our stop-and-frisk policies," Paterson said. "What it does is it disallows the use of personal data of innocent people who have not done anything wrong. "
Breast cancer drug fails to extend lives
WASHINGTON — Federal health scientists said Friday that follow-up studies of a Roche breast cancer drug showed that it failed to extend patient lives, opening the door for it to be potentially withdrawn for use in treating that disease.
The Food and Drug Administration approved Roche's Avastin in 2008 based on a trial showing it slowed growth of tumors caused by breast cancer. The decision was controversial because drugs for cancer patients who have never been treated before must usually show evidence they extend lives.