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Article: AIG Sues Greenberg, 6 Other Former Executives
- Article from:
- The Washington Post
- Article date:
- March 28, 2008
- Author:
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American International Group, the world's largest insurer by
assets, sued the company's former chief executive Maurice R. "Hank"
Greenberg, claiming he misappropriated AIG shares worth $20 billion.
AIG claims Greenberg and six other former executives, including
former Chief Financial Officer Howard Smith, took over company stock
held by an AIG affiliate, Starr International , or SICO, in 2005.
Starr is AIG's largest shareholder. AIG claims the defendants put
themselves on Starr's board and converted the stock into a private
investment vehicle for their benefit.
"Greenberg engineered a coup d'etat to usurp full control of
SICO's board of directors," AIG said in a complaint filed yesterday
in ...
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