The conflict between Maurice Greenberg and American International Group, which forced him out as chief executive officer two years ago, saw yet another legal salvo fired in a Delaware Court yesterday.
C.V. Starr & Company–the investment and insurance firm where Mr. Greenberg now serves as chairman and CEO–is suing AIG for "hundreds of millions" of dollars that the insurer made with the firm, an announcement from his attorneys said.
The action, filed in Delaware Chancery Court, was a cross-claim in connection with a 2002 lawsuit against Mr. Greenberg by Teachers' Retirement System of Louisiana–an AIG shareholder. The suit alleges unfair transactions between C.V. Starr and AIG harmed the company by allowing Mr.Greenberg and other corporate officers to reap excess profits. Mr. Greenberg at the time ran both Starr and AIG.
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