AIG insurance fraud settlement [NY AG] News
AIG insurance fraud settlement [NY AG]

Agreement Between the Attorney General of the State of New York and American International Group Inc., announced February 9, 2006 [settlement of $1.64 billion to end civil litigation against the insurance company alleging fraud, bid-rigging and improper accounting, filed by the New York Attorney General's Office, the New York State Insurance Department and the US Department of Justice]. Read the full text of the settlement agreement [PDF]. Reported in JURIST's Paper Chase here.

THIS DAY @ LAW

India constitution ratified

On January 26, 1950, India ratified its constitution, formally making the new country a republic. On the same day, Rajendra Prasad was inaugurated as the republic's first president. The anniversary is celebrated today as Republic Day in India.

Tennessee became first state to ban alcohol sales

On January 26, 1838, Tennessee became the first US state to pass a law prohibiting the general sale of alcohol; fines paid by lawbreakers were put towards the support of public schools. Read more about the history of Prohibition.