NAIFA Helps You Grow Your Business.
Qualified insurance leads to grow your business.
Qualified insurance leads to grow your business.
Qualified insurance leads to grow your business.
Follow InsuranceNewsNet on Facebook

Insurance Marketing

 

AIG board weighing joining suit against US

January 08, 2013
SHARE THIS:

Associated Press

NEW YORK -- American International Group Inc. says its board of directors will weigh whether to take part or try to block a shareholder lawsuit against the U.S. over the government's $182 billion bailout of the insurer.

AIG said that its directors will take up the matter on Wednesday and expects they will have a decision by the end of the month.

Starr International Co. Inc., the investment firm of ex-AIG CEO Maurice Greenberg, filed the lawsuit on behalf of the firm and AIG shareholders.

The complaint asserts that the government didn't provide shareholders just compensation when it took a nearly 80 percent stake in the insurer as part of its 2008 bailout.

AIG's board must consider whether to take over the lawsuit or allow Starr to continue to pursue the complaint.

Copyright:(c) 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Wordcount:132


SHARE THIS:



USER COMMENTS:

comments powered by Disqus

  More Top News

More Top News >>
  Most Popular Top News

More Popular Top News >>
Hot Off the Wires  Hot off the Wires

More Hot News >>

insider icon Denotes premium content. Learn more about becoming an Insider here.
Four crucial questions to ask your pre-retirement clients