04/03/2009 05:12 am ET | Updated May 25, 2011

Hank Greenberg: AIG Perpetrated Fraud

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."

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