A federal judge in Manhattan yesterday approved a $115 million settlement reached by former American International Group Inc. CEO Maurice "Hank" Greenberg and other former AIG executives to resolve a shareholder class action.
Southern District Judge Deborah Batts (See Profile) ruled from the bench in In re American International Group Securities Litigation, 1:04-cv-08141, that the settlement was "fair, reasonable and adequate," overruling the sole objection by an investor, which did not appear in court.
