4 Financial Stock Stories to Take to the Bank
American International Group (NYSE:AIG): Closing price $39.11
United States Claims Judge Thomas Wheeler has decided that AIG shareholders can sue the government as a group in a lawsuit brought by former Chief Executive Maurice Greenberg, concerning losses caused by the bailout of the insurer, saying that the case could affect tens of thousands of persons. Beyond that, the judge granted a request by Greenberg’s Starr International Co. to certify two classes of AIG investors in the suit, and also appointed David Boies of Boies, Schiller & Flexner as lead counsel for the groups. Wheeler commented in his ruling that “considering the estimation of plaintiff’s counsel that the putative plaintiffs may number more than tens of thousands of geographically dispersed persons, class certification is by far the most efficient method of adjudicating these claims.”
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