Starr Int’l Co. v. United States
- Case Date: 11/13/2017
- Project Name: Criminalization of Free Enterprise - Business Civil Liberties Program
On November 13, 2017, WLF filed a brief in the U.S. Supreme Court, urging it to review (and eventually overturn) an appeals court decision that barred the courthouse doors to corporate shareholders who contend that they were the victims of a multi-billion dollar “illegal exaction” by the federal government. The case involves shareholders of AIG, a large financial company that received a federal loan during the 2008 financial crisis. In connection with the loan, the Government seized 80% of AIG’s shares, thereby pocketing a $20 billion profit—in addition to full repayment of the loan with interest. The shareholders contend that the seizure was not authorized by federal law and thus violated their due process rights. But despite acknowledging the plaintiffs’ Article III standing, the appeals court applied “prudential standing” principles as its basis for not permitting the lawsuit to proceed. WLF argued that federal courts are required to hear all cases coming within their jurisdiction.
More Information and Downloads:
11/13/2017: Download the Brief