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Published in TZ Latest News 15 June, 2015 by The TZ Newswire Staff

Judge rules for ex-AIG CEO Greenberg over 2008 bailout, but no damages

WASHINGTON/NEW YORK (Reuters) – A U.S. judge on Monday awarded no damages to American International Group Inc (AIG.N) shareholders led by former CEO Maurice “Hank” Greenberg in their lawsuit against the U.S. government, despite finding that the U.S. Federal Reserve exceeded its authority in the insurer’s 2008 bailout. While Judge Thomas Wheeler of the Federal Court of Claims in Washington, D.C. sided with Greenberg on a key legal claim, the decision amounts to a pyrrhic victory that could help shield regulators from legal challenges to their responses in future financial crises.

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