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Hank Greenberg: AIG Perpetrated Fraud

Aig

First Posted: 04/03/09 06:12 AM ET Updated: 05/25/11 02:05 PM ET

Bloomberg:

March 3 (Bloomberg) -- Former American International Group Inc. Chief Executive Officer Maurice "Hank" Greenberg accused the insurer in a lawsuit of securities fraud after it reported the biggest loss by a publicly traded U.S. firm.

Greenberg sued yesterday in federal court in Manhattan, saying the company's "material misrepresentations and omissions" caused him to acquire New York-based AIG shares in his deferred compensation profit-participation plan at an "artificially inflated price."

Read the whole story: Bloomberg

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Filed by Julie Satow  |