Tac is a separate company now, but was a subsidiary then. The sub is whom is named in the suit. Tac has been an impediment ever since the JPL split them off. I noticed Swiss Re is coming in with the plaintiffs. I wonder where the litigation trust comes in. Was AIG part of the deal to split off Tac after the BK? I know it was some heavy hitters that Mr. Arpad met in court. May TGL will end up with some of those bailout funds after all? Might just be better to let it die, but bailout the shareholders who/are were the real victims.
As usual, the Lawyers get all of the money, and the shareholders get scraps if they are lucky. Wanna bet all the "plaintiffs" companies are corporations with nothing better to do with the shareholders money than waste it on lawyers filing lawsuits against bankrupt companies? If this was a DOJ investigation, the stakes would be more interesting. Stealing pennies from penny stocks?
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