November 15, 2018, 09:18:23 PM *
Welcome, Guest. Please login or register.

Login with username, password and session length
News: NEW CHILD BOARD CREATED IN THE POLITICAL SECTION FOR THE 2016 ELECTION
 
   Home   Help Login Register  
Pages: 1   Go Down
  Print  
Author Topic: ""Granddaddy" of AIG Subprime Suit Goes On"  (Read 726 times)
0 Members and 1 Guest are viewing this topic.
WhiskeyGirl
Monkey All Star Jr.
****
Offline Offline

Posts: 7689



« on: September 28, 2010, 07:57:21 PM »

Quote
Those folks wondering when company higher-ups are going to be punished  for their roles in the economic collapse can take heart in one procedural victory: A federal judge Monday refused to dismiss a shareholder suit accusing AIG and top executives of making false statements about the insurance giant's exposure to subprime mortgages, according to our colleague Andrew Longstreth at The Am Law Litigation Daily.

Longstreth describes the case as "one of the granddaddies of pending subprime securities litigation" and reports Judge Laura Swain of federal court in Manhattan didn't buy AIG's argument that the company's public filings contained enough cautionary language about subprime exposure. AIG has turned to Weil, Gotshal & Manges for counsel in the case, and the company was quick to point out that Swain's ruling did not touch on the merits of the lawsuit, Longstreth reports. The company said it is confident Swain will find no evidence of fraud.

more here - http://amlawdaily.typepad.com/amlawdaily/2010/09/granddaddy-of-aig-subprime-suit-goes-on.html

Maybe there is hope for all those other failed banks!
Logged

All my posts are just my humble opinions.  Please take with a grain of salt.  Smile

It doesn't do any good to hate anyone,
they'll end up in your family anyway...
Pages: 1   Go Up
  Print  
 
Jump to:  

Use of this web site in any manner signifies unconditional acceptance, without exception, of our terms of use.
Powered by SMF 1.1.13 | SMF © 2006-2011, Simple Machines LLC
 
Page created in 2.865 seconds with 19 queries.