Former American International Group CEO Maurice R. "Hank" Greenberg is seeking $25 billion in damages from the federal government for the manner in which it bailed out the insurance giant in 2008.
According to the Wall Street Journal, Greenberg’s current firm, Starr International Co., filed the lawsuit today in the U.S. Court of Federal Claims in Washington, D.C. The suit alleges $182 billion bailout, which gave the government an 80% stake in company, diluted the value of shares held by the company’s existing shareholders, of whom Starr was the largest at the time of the bailout.
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