Among the payments for which American International Group Inc. is seeking indemnification from its former top executives, Maurice R. Greenberg and Howard I. Smith, due to their alleged mismanagement of the company, are:
- An $800 million settlement of a Securities and Exchange Commission action against AIG relating to alleged misstatements included in AIG's financial reports filed with the SEC.
- A $25 million charge AIG took to settle Department of Justice claims relating to the alleged misstatements.
- A $100 million fine AIG paid to the New York Attorney General's office and the New York State Insurance Department to resolve a civil action alleging the company took various actions to manipulate its stock price.
- Hundreds of millions of dollars in interest and penalties paid by AIG to settle claims by the New York attorney general and New York State Insurance Department that AIG underpaid both its workers compensation taxes and its required contributions to various state workers comp funds.
- Millions of dollars more AIG has paid to address an internal investigation, regulatory probes and defend lawsuits brought against the company in the form of consolidated securities class actions.
Source: Court documents
