Former American International Group Chief Executive Officer Maurice "Hank" Greenberg and other former AIG executives are responsible for $29.5 million as part of a $115 million settlement with an institutional investor over allegations that AIG diverted business to a company subsidiary, depriving shareholders of the benefits of those earnings.
An attorney for Mr. Greenberg, Lee Wolosky, said that "to avoid the costs and uncertainties of trial C.V. Starr & Company Inc. will pay approximately 28 million which is a tiny fraction of the $1 billion to $2 billion plaintiff's sought.
A spokesperson said the settlement monies would be provided by C.V. Starr not Mr. Greenberg.
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