Ex-AIG CEO Launches $25B Suits Over Gov't Takeover

Law360, New York (November 21, 2011, 6:43 PM EST) -- Former American International Group Inc. CEO Maurice R. "Hank" Greenberg unleashed a class action and a derivative suit Monday over the government's 2008 takeover of the firm, saying the agencies involved trampled shareholders' rights and should pay him and other investors at least $25 billion in damages.

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 the Treasury Department and the Federal Reserve Bank of New York violated the...
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