Bernanke Must Testify In $55B AIG Bailout Suit By Ex-CEO

Law360, New York (July 29, 2013, 12:58 PM EDT) -- Federal Reserve Chairman Ben Bernanke must testify in a $55 billion class action brought by former American International Group Inc. CEO Maurice "Hank" Greenberg against the federal government challenging its controversial 2008 bailout of the insurance giant, a judge ruled Monday.

U.S. Court of Federal Claims Judge Thomas C. Wheeler said he would allow counsel for Starr International Co. Inc., an entity led by Greenberg that once held a 12 percent stake in AIG, to depose Bernanke regarding his personal involvement in the bailout. Starr claims...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.