CORRECT: Ex-AIG CEO Greenberg Takes Stand In AIG-SICO Case
17 June 2009 - 4:12AM
Dow Jones News
Maurice R. "Hank" Greenberg, American International Group's
(AIG) former chief executive, took the stand Tuesday afternoon in a
long-running dispute over control of a block of shares held by
Starr International Co., a one-time sister company to AIG.
Greenberg is a key witness in the dispute between Starr
International, or SICO, and AIG over tens of millions of AIG shares
held by SICO.
AIG has sued SICO for $4.3 billion in damages - representing the
sale of tens of millions AIG shares since he left the insurer - and
the return of more than 185 million shares SICO controls.
The jury trial is being heard in U.S. District Court in
Manhattan and is expected to last a month.
Greenberg, who was forced out of AIG in 2005 amid investigations
into the insurance company's accounting, is SICO's chairman.
-By Chad Bray, Dow Jones Newswires; 212-227-2017;
chad.bray@dowjones.com