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AIG Directors Sued to Force Immediate Return of Total Bonuses
Defendants Include Richard Holbrooke and Martin Feldstein of Obama Administration
Class Action Suit Prays for All Damages As Well to Shareholders and Company
3/27/2009
Today, Freedom Watch announced the filing of a class action lawsuit by shareholders of AIG to force the directors of the company to themselves pay back the millions in illicit bonuses, dividends and other perks they paid out to themselves and other officials who destroyed the company's financial standing.
The lawsuit, filed in the federal court in Los Angeles, is wide reaching and will accomplish what Congress cannot, given the patent illegality of its taxing scheme, which violates the U.S. Constitution as it would tax ex post facto and discriminately.
Larry Klayman, the Chairman and General Counsel of Freedom Watch, who represents the shareholders in their class action suit, issued this statement:
"Today, the American people, not the compromised ruling elite in Washington, D.C., have begun a second American Revolution to take the country back from the con men on Wall Street, and on Pennsylvania Avenue - who under successive administrations played a central role in the meltdown of the U.S. financial system and economy. Freedom Watch will not rest until justice is done and it won't come from the Obama administration, bent on deceiving the U.S. taxpayer that it intends to clean up this corruption, all the while lining the pockets of its friends at AIG with government bailout money, who gave handsomely to have the President elected."
The lawsuit also seeks to recover, from the directors, the losses of the shareholders of the last many months and years, as well as to make AIG whole under new leadership, without the use of government money.
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