Tuesday, July 7, 2009

Jury Finds Against A.I.G. in Greenberg Case

According to the New York Times, A federal jury on Tuesday ruled in favor of Maurice R. Greenberg, the former chief executive of the American International Group, in a case involving $4.3 billion stock dispute.

Though Mr. Greenberg sold the $4.3 billion block of stock in 2005, long before the price crashed, he kept much of his personal fortune in A.I.G. shares. When the government stepped in last fall, taking a 79.9 percent stake in the company, Mr. Greenberg and other shareholders were essentially wiped out.

Read the entire article at the New York Times

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