NEW YORK, May 29, 2013 /PRNewswire-USNewswire/ -- The following is being released by the law firm of Boies, Schiller & Flexner LLP.
PURSUANT TO RULE 23 of the Rules of the United States Court of Federal Claims, you are hereby notified:
The purpose of this Notice is to inform you of a class action lawsuit ("Class Action") challenging the actions of the United States with regard to American International Group, Inc. ("AIG") between September 2008 and June 2009. The United States Court of Federal Claims has certified this case as a Class Action. If you are eligible, you have the right to elect to join this lawsuit. Alternatively, you can do nothing and remain outside the two Classes.
The United States Court of Federal Claims authorized this Notice to inform AIG shareholders in the relevant time periods that this Class Action lawsuit is ongoing and to provide information about their options and rights to join or not join one or both Classes so that AIG shareholders can make an informed decision.
By authorizing this Notice and agreeing that this lawsuit should be a Class Action lawsuit, the Court of Federal Claims has not decided whether the United States has any liability to the certified classes; that will be determined at a trial.
Who is Included?
Two classes have been certified; you may be eligible to join one or both. If you owned AIG common stock on or before September 16, 2008 and owned those shares on September 22, 2008, you may be eligible to join the Credit Agreement Class.
If you owned AIG common stock on June 30, 2009 and you were eligible to vote that stock at the AIG annual meeting of shareholders held on that day, you may be eligible to join the Stock Split Class.
What is this Lawsuit About?
This lawsuit relates to certain actions taken by the United States government between September 2008 and June 2009 with regard to AIG. Starr International Company, Inc. ("Starr"), the AIG shareholder that initiated this lawsuit, alleges that these actions were unconstitutional and illegal. Specifically, Starr alleges that the actions of the United States amounted to an illegal exaction and/or taking of shareholder property ownership interests in AIG without just compensation. Starr seeks relief in the form of Government compensation to AIG shareholders for the alleged illegal acts. The United States denies that it acted illegally or unconstitutionally.
How Can I Join?
A detailed Notice which describes the consequences of a decision to join or not join this Class Action can be found at: www.starrtakingsclaim.com. If, after reading the Notice and the information on the website, you decide you want to join one or both of the Classes, you can obtain a Class Action Enrollment Form at: www.starrtakingsclaim.com or by contacting the Claims Administrator, Rust Consulting, Inc. at 1-877-497-5920 or email@example.com. You must submit your consent form by September 16, 2013.
What are my Options?
If you qualify, you may join one or both of the Classes. If you join, you will be bound by any judgment, order, or settlement in the lawsuit, both favorable and unfavorable. You will have the right to your share of any money that is recovered, if there is any recovery. You will not be allowed to sue the United States separately if you join.
The Court has appointed Class Counsel, David Boies, to represent all class members. He will represent you if you choose to join one or both of the Classes. If you choose, you have the right to have your own attorney represent you in this action or in a separate action. If you choose to hire your own attorney, you will have to pay that attorney. Class Counsel and the law firms representing the Classes will ask the Court to allow them to take a percentage of any money that is recovered as their fee.
You can do nothing. You will not be a member of either Class. You will not be bound by any judgment, and will not share in any recovery. You can sue the United States separately if you want, at your expense.
For more information visit www.StarrTakingsClaim.com or call 1-877-497-5920.
SOURCE Boies, Schiller & Flexner LLP