Ex-AIG CEO's $25B Suit Warps Bailout, US Says

Law360, New York (March 02, 2012, 1:31 PM ET) -- The U.S. government sought Thursday to sink ex-American International Group Inc. CEO Maurice "Hank" Greenberg's $25 billion class action and derivative lawsuit over the government's 2008 takeover of the company, arguing that it distorted the bailout into a Fifth Amendment violation.

Starr International Co. — which is led by Greenberg and was AIG's largest shareholder when the government grabbed an 80 percent stake in the insurance giant — claims in the U.S. Court of Federal Claims suit that the U.S. Treasury Department and the Federal Reserve...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers

Required