AIG class-action gets green light

Two groups of American International Group shareholders won class-action status from a federal judge last night in a $25bn lawsuit by former chief executive Maurice “Hank” Greenberg over alleged losses caused by the US government’s bailout of the insurer. Citing Greenberg’s lawyer’s estimate that “tens of thousands” of shareholders might be affected, US Court of Federal Claims Judge Thomas Wheeler said that “class certification is by far the most efficient method of adjudicating these claims.”