March 26, 2018 / 1:40 PM / a month ago

U.S. top court rejects AIG ex-CEO Greenberg's bailout challenge

WASHINGTON, March 26 (Reuters) - The U.S. Supreme Court on Monday handed a defeat to former American International Group Inc CEO Maurice “Hank” Greenberg, refusing to hear an appeal he led arguing that the federal government illegally bailed out the insurer during the 2008 financial crisis at the expense of shareholders.

The justices left in place a 2017 ruling by a federal appeals court in Washington that Greenberg’s Starr International Co had no legal right to challenge the bailout because that right belonged to AIG, which chose not to sue.

Reporting by Andrew Chung; Editing by Will Dunham

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