AIG and Greenberg settle
American International Group (AIG) and Hank Greenberg, its former chief executive and chairman have settled a series of legal disputes. The actions stemmed from Greenberg’s ousting amid a 2005 accounting scandal.
AIG said that it would pay up to $150m (£90m) to cover Greenberg’s legal costs. The company had sued Greenberg for $4.3bn of stock that it says Starr International, Greenberg’s investment company, misappropriated from an employee compensation plan.