The US Supreme Court [official website] on Monday declined to hear [order list, PDF] the appeal of Maurice Greenberg’s Starr International Co.
The appeal argued that the federal government illegally bailed out AIG during the financial crisis of 2008 at the expense of shareholders.
Monday’s order leaves in place the 2017 ruling [JURIST report] of the US Court of Appeals for the District of Columbia Circuit, which held that Starr International Co., as shareholder, did not have legal standing to bring the claim. AIG declined to join Starr International Co. in the lawsuit.
US Solicitor General Noel Francisco had argued, “the court of appeals correctly held that the asserted claims challenging the terms of the government’s rescue of AIG belong to AIG as a whole, not to shareholders individually.”