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September 11, 2008 at 12:11 PM
Lawyers representing a large investor say former American International Group Inc. executives have agreed to contribute to a $115 million settlement fund.
The law firm of Grant & Eisenhofer P.A., Wilmington, Del., which represents the Teachers’ Retirement System of Louisiana, says its lawyers have negotiated a settlement that calls for former AIG Chairman Maurice Greenberg and 3 other AIG executives to pay $29.5 million to the settlement fund, and for director’s and officer’s liability insurance arrangements to pay another $85.5 million, the firm says.
The suit, filed in 2002, was about to go to trial, the firm says.
