Attorneys for a stockholders' action against American International Group have reached a proposed settlement with the company that would drop claims against most directors, leaving only former AIG boss Maurice Greenberg and two other ex-AIG executives as defendants.
The settlement proposal that was filed last week in Delaware's Court of Chancery in Wilmington would also leave C.V. Starr & Company and Starr International Company Inc.–two outfits with past links to AIG that are still controlled by Mr. Greenberg–as defendants.
The principal claims in the lawsuit concern the validity of commissions as well as service and rental fees paid by AIG to managing general agencies owned by Starr and SICO, both based in Bermuda.
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