Judge Sides With Ex-A.I.G. Chief in Bailout Suit but Awards No Money
Maurice Greenberg, the former chief executive of the American International Group, won his suit against the United States government on Monday, but a federal judge declined to award any damages.
The lawsuit, brought by Mr. Greenberg on behalf of himself and other A.I.G. shareholders, argued that the Federal Reserve overstepped its bounds when it bailed out the giant insurer in 2008.
Judge Thomas C. Wheeler ruled in favor of the plaintiffs, but at the same time he ruled that Mr. Greenberg could not show that the shareholders were damaged by the federal government’s seizure of 79.9 percent of the company’s equity. Mr. Greenberg had been seeking nearly $40 billion in compensation.
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http://www.nytimes.com/2015/06/16/business/dealbook/judge-sides-with-ex-aig-chief-greenberg-against-us-but-awards-no-money.html?emc=edit_na_20150615
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