AIG Shareholder Suit Limited to CEO, 2 Others
From Bloomberg News
A judge limited a $1-billion lawsuit against executives of American International Group Inc., the world’s largest insurer, to three defendants, including former Chief Executive Maurice “Hank” Greenberg.
Delaware Chancery Court Judge Leo Strine Jr. dismissed 10 outside directors from the suit, filed by shareholders led by the Teachers Retirement System of Louisiana. The suit challenges fees paid by New York-based AIG to C.V. Starr & Co., a private insurance firm controlled by Greenberg.
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