N.Y. attorney general drops damages claim against ex-AIG CEO

The state is still seeking to ban executive Hank Greenberg from any future involvement in the securities industry

N.Y. Attorney General Eric Schneiderman has dropped a claim for damages against Hank Greenberg, the former CEO of American International Group Inc. (AIG), reportedly in an effort to expedite a fraud case against the executive.

The lawsuit, filed in 2005 by former N.Y. Attorney General Eliot Spitzer, accused Greenberg and AIG’s former chief financial officer Howard Smith of using falsified transactions to hide the insurance company’s losses and misrepresent its financial condition.

Alanna Byrne

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