NU Online News Service, Sept. 1, 11:45 a.m. EDT
After years of lawsuits, American International Group Inc., its former Chairman and Chief Executive Officer Maurice R. Greenberg and its former Chief Financial Officer Howard I. Smith announced late yesterday they have jointly agreed on terms for binding arbitration of various legal disputes between AIG, on one hand, and Mr. Greenberg and Mr. Smith, on the other.
The parties have concluded that it is "preferable to resolve as many of their disputes as possible in a private setting, and in a more expeditious and cost-effective manner," according to a statement.
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