Thursday, November 6, 2008

Wilma has a go at the dinosaurus

In a report published by Financial Wire (here) we learned that Ms Wilma Walker, a shareholder of AIG has filed a lawsuit against the company. Ms Walker says that her rights were violated when the company accepted the U.S. government's $85 billion bailout in September in exchange for a majority stake in the insurer. Her claim is based on the allegation that AIG's board of directors broke Delaware corporate law by refusing to allow shareholders to vote on a part of the bailout proposal that gives a 79.9 percent stake to the government in the deal. An application for class action status is pending.

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