AIG, BofA, Others Seek Exit From $137B Bailout Suit

Law360, New York (October 17, 2011, 7:01 PM EDT) -- American International Group Inc. and several major banks implored a California federal court Friday to kill a whistleblower suit alleging they defrauded taxpayers in obtaining more than $137 billion in government bailouts for failed trades in the collateralized debt market.

AIG and counterparties Bank of America Corp., Goldman Sachs Inc., Deutsche Bank AG and Societe Generale argued the False Claims Act suit should fail because its allegations lack specificity and are composed entirely of information that was public knowledge before the complaint was filed.

Relators Derek...
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