Former AIG boss Hank Greenberg and former New York Governor Eliot Spitzer have a lot in common. Both are children of Manhattan, familiar and very rich. Oh yes, and both were forced to resign from grace at the height of their careers. Given that Spitzer’s pursuit of Greenberg contributed to his falling out of favor a few years before his own resignation (well, retirement), it led to a real revulsion between the two that was so intense that Greenberg denied the has spent most of his 80s and 90s litigating his downfall and not with his grandchildren and beloved dog, it is a bit difficult to notice the similarities in Greenberg’s presence. But so upset was the judge overseeing Greenberg’s libel suit against Spitzer – who televised AIG’s accounts under Greenberg as “fraudulent” shortly after his successor as New York attorney general did so in a legal settlement signed by Greenberg – that he went there went.
Trials had been slow for years, with a trial scheduled for January. Judge Grossman said the cost of the pretrial discovery exceeded $ 250,000 and that at least 16 lawyers were involved “as the parties neared their judicial Armageddon …”.
“Everyone is open and direct,” wrote the judge. “Everyone tried to rebuild their public stature after setbacks. In this respect they are perhaps more similar than different. “
Yes, Victor Grossman was there. And while we’re not sure if things can really get worse for Greenberg from here, Grossman is doing his best.
A New York judge threw back a defamation suit from former American International Group Inc. head Maurice “Hank” Greenberg, against former Attorney General Eliot Spitzer, ending a seven-year legal battle. In a 69-page statement last week, Judge Victor Grossman said Mr. Greenberg did not provide enough evidence to prove actual malice. He also said that in a defamation case, the word “fraud” has a slang meaning that a viewer or listener would understand, not a legal one.
Richter hands over victory to Eliot Spitzer in a 7-year legal battle with Hank Greenberg [WSJ]