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Proposed Settlement of McAfee Derivative Action Provides $30 Million Benefit to Company, $13.5 Million in Attorney’s Fees
Law firm Coughlin Stoia filed a Motion for Preliminary Approval of Derivative Settlement in In Re: McAfee, Inc. Derivative Litigation yesterday. The motion states that “with approximately $30 milion in financial benefits to the Company, this Settlement represents an excellent result. This Settlement is the result of extensive, arm’s-length negotiations between the parties overseen by [...]
Greenberg, Three Others from AIG, Settle Derivative Action for $115 Million
On Thursday, former AIG Chief Maurice “Hank” Greenberg and three other AIG executives settled a derivative action pending in Delaware for $115 million. As reported by the WSJ, the lawsuit involved the relationship AIG had with an insurance firm that Mr. Greenberg heads, C.V. Starr & Co., which underwrote some of AIG’s business and was [...]