Apollo Global Management Inc. resolved a lawsuit against two former executives of insurance unit Athene Holding Ltd. just days before the matter was set to go the trial.
In a Wednesday filing in New York state court, the private equity giant said it had reached a settlement with Stephen Cernich and Huan Tseng, whom it accused of participating in a scheme to launch a rival insurer. A jury trial in the 2020 lawsuit was set to begin on Monday, and Apollo Chief Executive Officer Marc Rowan had been expected to testify.
According to the suit,