Agreement between AIG and former CEO Greenberg on hold
Lawyer Stuart Grant, representing Louisiana pension funds, has asked Delaware Judge Leo Strine Jr. for a 10-day delay of the AIG-Greenberg accord, saying it may nullify his claims, Bloomberg reports.
The fund sued Maurice “Hank” Greenberg and other AIG officials in 2004. Grant fears the new agreement between AIG and Greenberg means Delaware officials “could assert that the claims against them have been released,” and “for no consideration,” Grant wrote.
AIG lawyer Mark Hurd told Strine that Grant is mistaken, and the agreement with Greenberg “does not extinguish the shareholder plaintiffs’ claims in this action.”
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