American International Group Inc. could be on the hook for total claims of perhaps $800 million or more related to profits on real estate deals involving AIG's Global Real Estate unit, according to a lawsuit that could come to trial in New York as early as this summer.
The lawsuit was filed by Kevin Fitzpatrick, former head of the Global Real Estate unit.
His lawyer, Sean O'Shea, alleges in the lawsuit that Fitzpatrick's 2001 employment contract grants him and his partners 10 percent of the profits on the sale of all AIG-owned properties.
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