Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nyse  >  American International Group Inc    AIG

AMERICAN INTERNATIONAL GROUP INC

(AIG)
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsAnalyst Recommendations

American : U.S. to Appeal Ruling in AIG Bailout Dispute

share with twitter share with LinkedIn share with facebook
share via e-mail
0
08/12/2015 | 03:43pm EST
By Angela Chen 

The U.S. government on Wednesday filed to appeal a judge's ruling that it violated the law when it took a controlling stake in American International Group Inc. in 2008.

Judge Thomas C. Wheeler ruled in June that the government action, during the most dramatic stretch of the financial crisis, was unlawful. Still, he accepted the government's arguments that without a Federal Reserve bank's $85 billion loan to AIG, the company would have filed for bankruptcy and shareholders likely would have been left with nothing.

"The government's unduly harsh treatment of AIG in comparison to other institutions seemingly was misguided and had no legitimate purpose," Judge Wheeler of the U.S. Court of Federal Claims wrote in his opinion.

In addition to the government's appeal, AIG's former longtime chief executive Maurice "Hank" Greenberg said he would appeal the decision not to award shareholders any of the $40 billion in damages they were seeking.

A representative for Mr. Greenberg wasn't immediately available, and AIG declined to comment on the appeal by the U.S.

Judge Wheeler had said "zero damages" were being awarded because he had to take into consideration that AIG's alternative to the government's harsh deal terms was to file for bankruptcy, an outcome that likely would have left shareholders with nothing.

Wednesday's appeal by the U.S. was filed in a one-paragraph notice that didn't offer further details.

Write to Angela Chen at angela.chen@wsj.com

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on AMERICAN INTERNATIONAL GRO
12/02AMERICAN INTERNATIONAL : AIG to Participate in the Goldman Sachs U.S. Financial ..
BU
11/26AM BEST : Comments on Credit Ratings of American International Group, Inc. Follo..
BU
11/26Alibaba’s amazing IPO and other companies’ news
11/25AMERICAN INTERNATIONAL GROUP INC : Entry into a Material Definitive Agreement, O..
AQ
11/25AMERICAN INTERNATIONAL : The Carlyle Group and T&D Holdings to Acquire Majority ..
BU
11/18AMERICAN INTERNATIONAL : AIG Names Allison Barrett Head of Multinational, Genera..
BU
11/02AMERICAN INTERNATIONAL : AIG Swings to Profit as Disaster Claims Ease
DJ
11/01AMERICAN INTERNATIONAL : | Management's Discussion and Analysis of Financial Con..
AQ
11/01AMERICAN INTERNATIONAL GROUP : 3Q Earnings Snapshot
AQ
11/01AMERICAN INTERNATIONAL : AIG Swings to Profit, as Catastrophes Take a Smaller To..
DJ
More news
Financials (USD)
Sales 2019 49 553 M
EBIT 2019 7 144 M
Net income 2019 3 379 M
Debt 2019 -
Yield 2019 2,50%
P/E ratio 2019 14,0x
P/E ratio 2020 9,91x
Capi. / Sales2019 0,91x
Capi. / Sales2020 0,93x
Capitalization 45 116 M
Chart AMERICAN INTERNATIONAL GROUP INC
Duration : Period :
American International Group Inc Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends AMERICAN INTERNATIONAL GRO
Short TermMid-TermLong Term
TrendsBearishBearishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 61,22  $
Last Close Price 51,86  $
Spread / Highest target 46,5%
Spread / Average Target 18,1%
Spread / Lowest Target -1,66%
EPS Revisions
Managers
NameTitle
Brian Duperreault President, Chief Executive Officer & Director
Douglas Mark Steenland Independent Non-Executive Chairman
Peter Zaffino Global Chief Operating Officer & Executive VP
Mark Donald Lyons Chief Financial Officer & Executive Vice President
Michael Brady Chief Technology Officer
Sector and Competitors
1st jan.Capitalization (M$)
AMERICAN INTERNATIONAL GROUP INC29.76%44 489
ALLIANZ SE22.30%97 259
CHUBB LIMITED16.34%68 112
ZURICH INSURANCE GROUP33.74%57 781
MARSH & MCLENNAN COMPANIES34.63%54 186
HARTFORD FINANCIAL SERVICES GROUP (THE), INC.36.15%21 813