AIG Execs Shell Out $115M Over Shareholder Suit

Law360, New York (September 12, 2008, 12:00 AM EDT) -- The former chief executive of American International Group Inc. has reportedly shelled out millions to put a long-standing shareholder lawsuit to rest, but his legal woes are far from over.

On Thursday, Maurice "Hank" Greenberg and a trio of other AIG executives handed over $115 million to settle a 2002 shareholder lawsuit filed in Delaware over an allegedly improper relationship with the insurance firm Greenberg heads up, C.V. Starr & Co.

The complaint alleges that the men improperly funneled more than $1 billion from AIG to...
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