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Litigation

During 2008, the Board of Governors was a party in seven lawsuits or appeals filed that year and in four other cases pending from previous years, for a total of eleven cases. In 2007, the Board had been a party in a total of eight cases. As of December 31, 2008, seven cases were pending.

Murray v. Board of Governors, No. 08-cv-15147 (E.D. Michigan, filed December 15, 2008), is a challenge to the constitutionality of federal expenditures relating to American International Group (AIG).

Bumgarner v. Paulson, Bernanke, et al., No. 08-cv-5245 (D. New Jersey, amended complaint filed November 21, 2008), challenges the implementation of the Economic Emergency Stabilization Act of 2008.

Bloomberg, L.P. v. Board of Governors, No. 08-cv-9595 (S.D. New York, filed November 7, 2008), is a case brought under the Freedom of Information Act.

Cobble v. Bernanke, No. 3:08-cv- 516-S (W.D. Kentucky, filed September 29, 2008), was a petition and request for injunction barring congressional consideration of federal legislation regarding the credit crisis. On October 6, 2008, the district court denied the injunction, and on November 21, 2008, the court dismissed the action.

Schulz v. United States Federal Reserve System, No. 1:08-cv-991 (N.D. New York, filed September 18, 2008), is an action relating to the Federal Reserve's loan to American International Group. On September 25, 2008, the district court denied plaintiff's request for a temporary restraining order and preliminary injunction. On September 30, 2008, the plaintiff appealed the district court's order to the United States Court of Appeals for the Second Circuit (No. 08-4810).

Smith v. Bernanke, No. 08-6353 (U.S. Supreme Court, filed September 3, 2008), was a petition for certiorari seeking review of the Sixth Circuit's affirmance of the dismissal of plaintiff's complaint relating to his concerns about the closure of his bank account. On October 23, 2008, the petition for certiorari was denied.

Jones v. Greenspan, No. 08-5092 (D.C. Circuit, filed April 21, 2008), is an appeal of district court orders in an employment discrimination case granting the Board's motions for summary judgment and dismissal of the plaintiff's claims (see 402 F. Supp. 2d 294, 445 F. Supp. 2d 52, and 493 F. Supp. 2d 18).

Interactive Media Entertainment and Gaming Association, Inc. v. Federal Reserve System, No. 07-2625 (D. New Jersey, filed June 5, 2007), was an action challenging the implementation of the Unlawful Internet Gambling Enforcement Act of 2006. On March 5, 2008, the court granted the government's motion to dismiss the action.

Chandler v. Bernanke, No. 06-2082 (D. District of Columbia, filed December 6, 2006), is an employment discrimination action.

Barnes v. Greenspan, No. 04-CV-1989 (CKK) (D. District of Columbia, filed November 15, 2004), was a case under the Age Discrimination in Employment Act. The case was dismissed by stipulation of the parties on November 5, 2008.

Artis v. Greenspan, No. 01-0400 (D.District of Columbia, filed February 22, 2001), is an employment discrimination action. An identical action, No. 99-2073 (EGS) (D. District of Columbia, filed August 3, 1999), was consolidated with this action on August 15, 2001. On January 31, 2007, the District Court granted the Board's renewed motion to dismiss the action. 474 F. Supp. 2d 16. The plaintiffs' motion to alter or amend judgment is pending.

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