The Fox Business Network (FBN) earlier this week won an order from a federal magistrate judge mandating the Treasury Department release documents it has long withheld regarding the 2008 government bailout of American International Group, Inc. (AIG).
U.S. Magistrate Judge Frank Maas ordered the Treasury Department to disclose a variety of records, including internal communications among Treasury officials discussing AIG bonuses, media requests, dealings with Congress and investor relations, according to a release from FBN.
The legal battle between FBN and the Treasury Department, which has continued for more than four years, centered around Freedom of Information Act (FOIA) requests filed by FBN in 2008 and 2009.
In September 2008, AIG, which was threatened by a severe liquidity crisis, received a credit line of $85 billion from the U.S. government. However, the details of what led up to the bailout agreement between the Treasury Department and AIG are unclear.
Maas has scheduled a telephone conference for Dec. 3 to discuss the case, followed by a scheduling of the document delivery date.
“This is another proud day for Fox Business as we once again have earned a victory for the American public in the fight for enhanced transparency,” FBN executive vice president Kevin Magee said in the statement.