A further chapter in the spate of litigation unleashed by the American International Group (AIG) and its former CEO Hank Greenberg was closed last month, with insurers on the directors' & officers' (D&O) programme agreeing a $90mn settlement.
The action, originally brought by investors in 2005, claimed that 20 AIG senior executives, including Greenberg, had exercised poor oversight of the company.
The suit alleged that the executives - including Greenberg, former vice-chairman Edward Matthews and former CFO Howard Smith -...
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