Shareholders Drop AIG Execs From Fraud Suit

Law360, New York (November 2, 2009, 4:04 PM EST) -- Continuing to streamline the gargantuan fraud case against American International Group Inc. and its top brass, the lead plaintiff has asked the court to dismiss two former company heavyweights from the consolidated shareholder action.

On Friday, Ohio State Funds asked Judge Deborah A. Batts of the U.S. District Court for the Southern District of New York to let Frank J. Hoenemeyer, a nonagenarian former director at AIG, exit the arena, joined by former senior executive Michael Murphy.

The plaintiff chose to drop allegations against the defendants...
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