Judge Nixes Ex-AIG CEO's Suit Against Successor

Law360 (June 13, 2007, 12:00 AM EDT) -- A Delaware state court denied a motion by former American International Group Inc. Chairman Maurice R. “Hank” Greenberg to countersue other executives at the company, including his successor Martin Sullivan, over an alleged payout scheme involving one of his companies.

Vice Chancellor Leo Strine of the Delaware Chancery Court denied the motion by Greenberg, who is a defendant along with former AIG executives Edward E. Matthews and Howard I. Smith, in a shareholder derivative lawsuit filed by Teachers' Retirement System of Louisiana.

The executives are accused...
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