{"id":5434,"date":"2013-03-19T00:00:00","date_gmt":"2013-03-19T05:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2013\/03\/stakeholders_with_55m_securiti"},"modified":"2022-05-04T13:37:44","modified_gmt":"2022-05-04T18:37:44","slug":"stakeholders-with-55m-securiti","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/stakeholders-with-55m-securiti\/","title":{"rendered":"Stakeholders With $55M Securities Fraud Case Against Government Over AIG Bailout Get Class Action Certification"},"content":{"rendered":"

The plaintiffs who are suing the US Government over losses they claim they sustained during its bailout of American International Group (AIG)<\/a> have been granted class certification. Seeking $55 million, they are contending that the government behaved unconstitutionally when it rescued the company in 2008 during the economic crisis.<\/p>\n

In their securities case, investment firm Starr International Co. is claiming that the federal government violated the Fifth Amendment via two transactions that resulted in the delivery of $182 billion in loans backed by US taxpayers and other financial facilities to the beleaguered insurance giant. Starr once was the largest shareholder of AIG, possessing a 12% stake. Judge Thomas C. Wheeler of the U.S. Court of Federal Claims certified two classes related to the two transactions.<\/p>\n

One class is comprised of AIG shareholders from September 22, 2008, when a credit agreement granting the government a 79.9% stake in AIG went into effect. The second class is made up of shareholders from the beginning of June 30, 2009 that were not given the chance to vote on a reverse stock split that the government allegedly initiated. The plaintiffs say that both actions were an illegal taking that violated the US Constitution.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

The plaintiffs who are suing the US Government over losses they claim they sustained during its bailout of American International Group (AIG) have been granted class certification. Seeking $55 million, they are contending that the government behaved unconstitutionally when it rescued the company in 2008 during the economic crisis. In their securities case, investment firm […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3987,3804,3752],"tags":[],"class_list":["post-5434","post","type-post","status-publish","format-standard","hentry","category-american-international-group","category-class-action-lawsuits","category-financial-firms"],"yoast_head":"\nStakeholders With $55M Securities Fraud Case Against Government Over AIG Bailout Get Class Action Certification — Investor Lawyers Blog — March 19, 2013<\/title>\n<meta name=\"description\" content=\"The plaintiffs who are suing the US Government over losses they claim they sustained during its bailout of American International Group (AIG) have been — March 19, 2013\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/stakeholders-with-55m-securiti\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Stakeholders With $55M Securities Fraud Case Against Government Over AIG Bailout Get Class Action Certification — Investor Lawyers Blog — March 19, 2013\" \/>\n<meta name=\"twitter:description\" content=\"The plaintiffs who are suing the US Government over losses they claim they sustained during its bailout of American International Group (AIG) have been — March 19, 2013\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards & Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Stakeholders With $55M Securities Fraud Case Against Government Over AIG Bailout Get Class Action Certification — Investor Lawyers Blog — March 19, 2013","description":"The plaintiffs who are suing the US Government over losses they claim they sustained during its bailout of American International Group (AIG) have been — March 19, 2013","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/stakeholders-with-55m-securiti\/","twitter_card":"summary_large_image","twitter_title":"Stakeholders With $55M Securities Fraud Case Against Government Over AIG Bailout Get Class Action Certification — Investor Lawyers Blog — March 19, 2013","twitter_description":"The plaintiffs who are suing the US Government over losses they claim they sustained during its bailout of American International Group (AIG) have been — March 19, 2013","twitter_misc":{"Written by":"Shepherd Smith Edwards & Kantas, LLP","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/stakeholders-with-55m-securiti\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/stakeholders-with-55m-securiti\/"},"author":{"name":"Shepherd Smith Edwards & Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"Stakeholders With $55M Securities Fraud Case Against Government Over AIG Bailout Get Class Action Certification","datePublished":"2013-03-19T05:00:00+00:00","dateModified":"2022-05-04T18:37:44+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/stakeholders-with-55m-securiti\/"},"wordCount":577,"articleSection":["American International Group","Class Action Lawsuits","Financial Firms"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/stakeholders-with-55m-securiti\/","url":"https:\/\/www.investorlawyers.com\/blog\/stakeholders-with-55m-securiti\/","name":"Stakeholders With $55M Securities Fraud Case Against Government Over AIG Bailout Get Class Action Certification — Investor Lawyers Blog — March 19, 2013","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#website"},"datePublished":"2013-03-19T05:00:00+00:00","dateModified":"2022-05-04T18:37:44+00:00","author":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"description":"The plaintiffs who are suing the US Government over losses they claim they sustained during its bailout of American International Group (AIG) have been — March 19, 2013","breadcrumb":{"@id":"https:\/\/www.investorlawyers.com\/blog\/stakeholders-with-55m-securiti\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.investorlawyers.com\/blog\/stakeholders-with-55m-securiti\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.investorlawyers.com\/blog\/stakeholders-with-55m-securiti\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.investorlawyers.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Stakeholders With $55M Securities Fraud Case Against Government Over AIG Bailout Get Class Action Certification"}]},{"@type":"WebSite","@id":"https:\/\/www.investorlawyers.com\/blog\/#website","url":"https:\/\/www.investorlawyers.com\/blog\/","name":"Investor Lawyers Blog","description":"Published By Investment Fraud Attorneys \u2014 Shepherd Smith Edwards & Kantas, LLP","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.investorlawyers.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431","name":"Shepherd Smith Edwards & Kantas, LLP","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","caption":"Shepherd Smith Edwards & Kantas, LLP"},"sameAs":["https:\/\/www.investorlawyers.com\/"]}]}},"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/pedX9K-1pE","_links":{"self":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/5434","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/comments?post=5434"}],"version-history":[{"count":6,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/5434\/revisions"}],"predecessor-version":[{"id":27164,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/5434\/revisions\/27164"}],"wp:attachment":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/media?parent=5434"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/categories?post=5434"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/tags?post=5434"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}