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AIG shareholders win class-action status in lawsuit against the government

AIG logo 2012

An American judge granted class-action status to two groups of AIG shareholders in a $25bn (£16.7bn) lawsuit by former chief executive Maurice “Hank” Greenberg over alleged losses arising from the bailout the insurer received from the US government, Reuters reported.

Greenberg's Starr International Co, once AIG's largest shareholder with a 12% stake, sued the United States in 2011 over what eventually became a $182.3 billion bailout for the New York-based insurer

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