Former American International Group Inc. leading man Maurice “Hank” Greenberg scored a victory over the company after a federal jury ruled in his favor in a case involving a dispute over $4.3 billion stock.
The case hinged on whether an investment firm run by Greenberg would have to reimburse New York-based AIG for shares removed from a retirement bonus fund.
Although the company maintains Greenberg unlawfully took the stock before he was forced out of the company in 2005, the jury found otherwise.
The jury decision’s is considered to be advisory, so Federal District Judge Jed Rakoff may reverse it when he issues a final ruling at the end of August.
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