• Company
  • Description
  • Recovery Amount
  • TRSL v. AIG
  • Teachers’ Retirement System of Louisiana v. Greenberg, et al.


Delaware Chancery Court

In one of the largest settlements of derivative shareholder litigation in the history of Delaware Chancery Court, G&E reached a $115 million settlement in a shareholder lawsuit against former executives of American International Group, Inc. (“AIG”) for breach of fiduciary duty. The case challenged hundreds of millions of dollars in commissions paid by AIG to C.V. Starr & Co., a privately held affiliate controlled by former AIG Chairman Maurice “Hank” Greenberg and other AIG directors. The suit alleged that AIG could have done the work for which it paid Starr and that the commissions were simply a mechanism for Greenberg and other Starr directors to line their pockets.