AIG Investors Get Nod For $115M Deal With Ex-Honchos

Law360, New York (April 10, 2013, 7:55 PM EDT) -- A federal judge on Wednesday approved a $115 million settlement to end a securities fraud class action American International Group Inc. shareholders brought against former chief Maurice “Hank” Greenberg and other executives.

The deal, approved by U.S. District Judge Deborah Batts at a hearing in Manhattan, is one of the largest settlements between shareholders and individual company bosses.

Shareholders targeted Greenberg, AIG’s former CEO, and other ex-AIG leaders after their stocks tumbled in value following the revelation of a $3.9 billion accounting fraud in 2005 and...
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