Monday, November 19, 2012

Breaking News: Court Dismisses Ex-AIG CEO Greenberg's Bailout Suit Against Fed Reserve

Insurance Journal Breaking News
November 19, 2012

Breaking News Alert

Court Dismisses Ex-AIG CEO Greenberg's Bailout Suit Against Fed Reserve

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The Federal Reserve Bank of New York won the dismissal of former American International Group Inc. Chief Executive Maurice "Hank" Greenberg's $25 billion lawsuit accusing it of acting unlawfully in bailing out the insurer during the 2008 financial crisis.

U.S. District Judge Paul Engelmayer in Manhattan on Monday dismissed in full the case brought on behalf of Greenberg's company Starr International Co, which once held a 12 percent stake in AIG.

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