American International Group has settled all of its disputes with Peter Yu and William Jarosz, former executives with AIG Global Investment Group's private equity unit, AIG Capital Partners, and all other parties involved in the suit, according to AIG's attorney, Michael Carlinsky, partner in Quinn Emanuel Urquhart Oliver. AIG had filed a civil suit in U.S. District Court in New York against Messrs. Yu and Jarosz, as well as other former private equity executives from AIG Global, that sought to stop the defendants from competing with AIG Capital Partners, including barring them from raising any private equity funds through their new private equity firm, Cartesian Capital Group.
Messrs. Yu and Jarosz are also dismissing their case before a Department of Labor administrative law judge claiming they were fired in retaliation for being whistleblowers, said their attorney, David S. Golub, partner in Silver Golub & Teitell. They are also dismissing an arbitration in which they sought payment they said was due them under their employment contracts.
The settlement enables Messrs. Yu and Jarosz to operate Cartesian Capital Group.