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Duke in talks with AIG over lax case costs

Duke University and insurer AIG are in discussions to resolve a lawsuit over expenses related to confidential settlements the school paid to lacrosse team members falsely accused of sexually assaulting a stripper.

Duke and AIG have set Nov. 4 as a mediation date in the two-year-old lawsuit, Bloomberg News reports.

Duke had demanded reimbursement for costs tied to lawsuits by the lacrosse players and another by the team’s former coach over the school’s role in investigating the accusation, according to a November 2008 complaint.

City portfolio "safe"

Interim finance director Keith Herrmann told the city council that Durham's $171 million investment portfolio is safe, despite the ongoing turmoil in financial markets.

"We have no exposure to the stocks of AIG or Lehmann or Washington Mutual, these stocks that have been making headlines these last few days," Hermann said during the council's work session Thursday.

Durham OK in latest Wall Street crisis

News out of Wall Street today indicates that AIG, American International Group, is likely the next financial giant to fall in the international markets turmoil.

AIG is the parent company of the City of Durham's insurer in the Duke lacrosse case.

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