NU Online News Service, Nov. 21, 2:06 p.m. EST
Starr International Co., run by former American International Group Inc. CEO Maurice “Hank” Greenberg, has filed a lawsuit against the United States, claiming the government violated the Constitution when it took majority ownership of AIG without compensating the company’s shareholders.
The suit, filed Nov. 21 in the U.S. Court of Federal Claims, claims the federal government violated the Fifth Amendment when it assumed an 80 percent stake in AIG while making $182.3 billion in bailout funds available to the insurer to avoid its collapse.
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