Hank Greenberg Wins Trial But No Damages in AIG Bailout Suit
Bloomberg - June 15, 2015 - June 16, 2015
By Christie Smythe, Sophia Pearson, & David McLaughlin
The U.S. set illegal terms in demanding American International Group Inc. stock for an $85 billion bailout during the financial crisis, but that doesn’t mean AIG investors deserve compensation, a court ruled.
What began as a long-shot lawsuit by Hank Greenberg’s Starr International Co. gained credibility over years of failed government attempts to dismiss it. During an eight-week trial, Starr’s lawyer David Boies grilled Ben Bernanke, Hank Paulson and Timothy Geithner, and U.S. Court of Claims Judge Thomas Wheeler repeatedly ruled in Greenberg’s favor.
Read the full article: Hank Greenberg Wins Trial But No Damages in AIG Bailout Suit