New York's Highest Court Greenlights Case Against Ex-AIG CEO Hank Greenberg: WSJ

By Markets MarketWatch Pulse

New York's Court of Appeals, the highest court in the state, ruled Thursday that the 11-year civil-fraud lawsuit against the former chief executive of American International Group Inc. , Hank Greenberg, could proceed, the Associated Press reported. Greenberg's legal team argued that the case should be dismissed because there are no remedies available to the New York Attorney General's office. The court ruled that AG Eric Schneiderman could seek the return of ill-gotten profits, a ban from the securities industry, and a ban from serving as a director and officer of a public company. According to The Wall Street Journal, Greenberg, who denies any wrongdoing, also said the effort to ban him was a waste of taxpayer dollars.

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