Maurice R. “Hank” Greenberg, American International Group Inc.’s former chief executive, and a group of former AIG executives have agreed to pay $115 million to settle a shareholder lawsuit over alleged false statements regarding the insurer’s financial results.

The settlement by Greenberg and other executives is in a consolidated shareholder action brought by a group of Ohio pension funds in US District Court in Manhattan, a person familiar with the matter said.

The agreement is contingent in part on approval of the case as a class action. US District Judge Deborah A. Batts in Manhattan is having a two-day hearing beginning today on whether to grant class-action status, which is contested.