PwC Off Hook In AIG Shareholder Fraud Suit

Law360, New York (February 11, 2009, 12:00 AM EST) -- A judge has granted independent auditor PricewaterhouseCoopers LLP immunity in the shareholder derivative litigation against American International Group Inc., but firmly rejected bids by former AIG executives – including former CEO Maurice R. Greenberg and former CFO Howard I. Smith – to have the suit tossed.

In a 109-page opinion filed Tuesday in the Court of Chancery of the State of Delaware, Judge Leo E. Strine Jr. said the malpractice and breach of contract claims against PwC were governed by New York law, which immunizes an...
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