The Courier - 04/08/09
New complaint charges cover-up by government officials and AIG head Liddy runs from Process Servers. AIG shareholders class action amended to include Geithner, Paulson and Cox as defendants.
(Los Angeles, Ca., April 8, 2009). Freedom Watch, the government watchdog that protects individual liberties over government and corporate illegalities, today amended its $200 billion dollar class action derivative shareholders suit today against AIG and its directors to include two successive Secretaries of the Treasury, Henry Paulson and Timothy Geithner, as well as former SEC Chairman Christopher Cox, as defendants in the lawsuit. The suit is pending in Los Angeles federal court.
The inspiration for this amendment was information disclosed by University of Missouri professor, William K. Black, on the Bill Moyers' PBS television show last Friday, where he implicated these government officials in a massive cover up of the banking scandal, mostly for the benefit of Goldman Sachs, the former employer of both Paulson and Geithner, in which they held a significant financial interest. As for Cox, his reckless and intentionally impotent oversight at the SEC is the basis for the claim against him.
The complaint charges these defendants with violating the constitutional rights of the shareholders by denying them the right to their property; the shares themselves. Under a Supreme Court case, United States v. Bivens, they can be sued in their individual capacities, even though the acts took place during their tenure as government officials.
Finally, while the company AIG was served with the initial complaint, CEO and Director Edward Liddy has on three occasions "run" from process servers trying to serve him with the complaint, telling AIG security not to allow the process servers into his office suite. "This is an absolute disgrace," stated Freedom Watch Chairman and General Counsel Larry Klayman. "It shows the complete lack of respect AIG and its directors have for the Rule of Law. Liddy can run but he cannot hide. It's only a matter of time before he and his co-horts, along with Geithner, Paulson and Cox, will be held accountable by the American people, not compromised politicians in Washington, D.C., like Barney Frank Chairman of the House Financial Services Committee, who yesterday refused to answer a legitimate question from a Harvard student who inquired why he and his committee failed to oversee the banking scandal" Klayman added.
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Liddy can run but he cannot hide