Ex-AIG Execs Must Face State Court Suit: Judge

Law360, New York (December 4, 2008, 12:00 AM EST) -- A New York state judge has ruled that a lawsuit by American International Group Inc. accusing its former CEO Maurice “Hank” Greenberg and six other former company directors of stealing about $20 billion of its shares can go forward.

Judge Charles E. Ramos ruled Wednesday that AIG had sufficiently alleged that the executives had a fiduciary duty to AIG, and that they had breached it. He also rejected the defendants' argument that the suit should be dismissed for forum non conveniens and proceed in a different...
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