NU Online News Service, May 20, 4:18 p.m. EDT--A Louisiana teachers' pension fund has asked a Delaware court to seize and place in a trust fund billions in assets belonging to C.V. Starr & Co., a private company affiliated with American International Group.
The Teachers' Retirement System of Louisiana, which holds 461,000 shares of AIG stock, made its request in an amended complaint filed this week in Court of Chancery, New Castle County, Delaware.
The pension fund's lawsuit names as defendants C.V. Starr & Co., AIG and 21 present and past AIG officers and directors. The list includes former AIG chairman and chief executive Maurice Greenberg, AIG's new Chief Executive Martin Sullivan and non-executive chairman Frank Zarb.
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