Recently, the U.S. District Court for the Northern District of Illinois granted a Motion for Class Certification and Preliminary Approval of Class Action Settlement in an opinion stating that Goldberg Kohn’s credentials were “excellent". Accordingly, the firm was certified as class counsel to represent approximately 500 insurance companies to effectuate a classwide settlement with AIG for $450 million.
Goldberg Kohn represents seven insurance companies who intervened in a class action lawsuit filed against AIG in the Northern District of Illinois as a result of AIG’s fraudulent underreporting of workers compensation insurance premiums in the residual workers compensation market. The underlying complaint alleges that AIG underreported its workers compensation premium to a national pool which caused the 500 companies participating in the pool to incur substantial damages.
The parties opposed to the settlement (Liberty Mutual and its subsidiaries) sought leave from the Seventh Circuit to appeal the class certification decision, which was denied on August 19, 2011. Notice of the settlement issued to the class members on August 19, 2011, and a final fairness hearing is scheduled for November 29, 2011.