Starr International Co., led by ousted American International Group Chairman Maurice Greenberg, filed suit against AIG yesterday, claiming the insurer mismanaged a settlement with regulators, a Starr spokesman confirmed.
The suit, filed in Delaware Chancery Court, alleges AIG in a Feb. 9 settlement with New York Attorney General Eliot Spitzer may have incurred unnecessary expenses ranging in the hundreds of millions of dollars.
Starr is AIG's largest shareholder. AIG has a legal action in the Chancery Court attempting to recover payments from Mr. Greenberg and Starr.
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