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Jury Clears Starr International in AIG Stock Fight

Thursday, July 9, 2009 | 0

A federal jury in New York on Tuesday cleared Starr International Co. (SICO) of allegations that its principal, Maurice "Hank" Greenberg, illegal diverted $4.3 billion in stock meant for an American International Group deferred compensation plan.The jury issued an advisory opinion on Tuesday saying Starr International isn't liable for claims by American International Group (AIG) that it violated a trust agreement with the transfer of 290 million shares of stock.AIG sued Starr in U.S. District Court in Manhattan in 2005, alleging Greenberg illegally removed the stock from a trust establishe...

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