Court approves settlement in suit Against Greenberg, CV Starr
(BestWire) — The Delaware Chancery Court has issued preliminary approval to a settlement in a shareholder derivative action between the Teachers' Retirement System of Louisiana and four former American International Group executives. Under the settlement, the defendants and their directors and officers liability carriers, as well as one-time AIG affiliate CV Starr, will fund a settlement in the amount of $115m.
A hearing has been scheduled for Dec. 17 at the Court of Chancery in Delaware to discuss the terms of the settlement. D&O insurance acquired by AIG for the company’s former chairman and chief
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