Judge Tosses Investors' Suit Against General Re, Marsh, ACE

WILMINGTON, Del. - A Delaware state judge has dismissed a derivatives action accusing General Re Corp., Marsh & McLennan Companies Inc. and ACE Ltd. of conspiring with American International Group to defraud investors. American International Group v. Greenberg, No. 769-VCS, Del. Chanc. Ct.).

On June 17, Vice Chancellor Leo E. Strine of the Delaware Chancery Court held that it is inappropriate for AIG's shareholders to recover against other alleged corporate conspirators and that the action is barred by the in pari delicto doctrine.

In 2004, a group of AIG stockholders sued Maurice R. Greenberg and other AIG executives to recover …