AIG Vote Against Lawsuit Was ‘Right Result,’ U.S. Treasury Says

American International Group Inc. (AIG) made the proper decision to opt against joining the insurer’s former chief executive officer in a lawsuit against the U.S. over the company’s 2008 bailout, the Treasury Department said.

The vote by New York-based AIG’s board was the “right result,” said Timothy Massad, assistant secretary for financial stability, in an e-mailed statement today. “It is consistent with AIG’s determination to rebuild the company, repay taxpayers, and move forward.”

To contact the reporter on this story: Elizabeth Bunn in New York at Ebunn11@bloomberg.net

To contact the editor responsible for this story: Dan Kraut at dkraut2@bloomberg.net

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