AIG, Banks Say Fraud Claims Over $137B Bailout Too Vague

Law360, New York (August 12, 2013, 4:55 PM EDT) -- American International Group Inc. and several major banks asked a California federal court on 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, calling its claims ambiguous.

AIG and counterparties including Bank of America Corp., Goldman Sachs Inc., Deutsche Bank AG and Societe Generale SA argue the False Claims Act suit should fail because its allegations are vague and composed entirely of information that was public knowledge before...
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