United States v. Ferguson
Court of Appeals for the Second Circuit
BACKGROUND................................................................267 I- All Defendants’ Claims.....................................................273 A- Stock Price Data......................................................273
1Opinion of the Court
DENNIS JACOBS, Chief Judge:
This criminal appeal arose from a “finite reinsurance” transaction between American International Group, Inc. (“AIG”) and General Reinsurance Corporation (“Gen Re”). That transaction (the “Loss Portfolio Transfer,” or “LPT”) reallocated risk in a way that shored up AIG’s flagging loss reserves, which were feared to be dragging down its stock price. Finite reinsurance transactions, which entail some (usually low) risk, are acceptable accounting measures in the insurance industry, and have their uses; but in this instance it is charged that the transaction entailed no…
2Cases cited74 opinions
- United States v. OlanoSupreme Court of the United States · 1993
- Brecht v. AbrahamsonSupreme Court of the United States · 1993
- Neder v. United StatesSupreme Court of the United States · 1999
- Basic Inc. v. LevinsonSupreme Court of the United States · 1988
- Pinkerton v. United StatesSupreme Court of the United States · 1946
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3Cited by93 opinions
- United States v. CoplanCourt of Appeals for the Second Circuit · 2012
- United States v. James and MallayCourt of Appeals for the Second Circuit · 2013
- United States v. BindayCourt of Appeals for the Second Circuit · 2015
- United States v. Dane GillisCourt of Appeals for the Eleventh Circuit · 2019
- United States v. James BrooksCourt of Appeals for the Fifth Circuit · 2012
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