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Article: Hank Greenberg Sues Current AIG Directors and Management Over Unnecessary and Improper Restatement.
- Article from:
- PR Newswire
- Article date:
- June 20, 2007
CopyrightCOPYRIGHT 2007 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK, June 20 /PRNewswire/ -- Maurice R. "Hank" Greenberg today sued current and former directors and management of American International Group ("AIG"), seeking to hold them liable for unnecessary and improper decisions to restate the company's earnings and pay a $1.6 billion settlement. Greenberg also sued PricewaterhouseCoopers LLP ("PWC"), AIG's external auditor.
David Boies, counsel for Mr. Greenberg, stated:
"Last week AIG's current board and management simultaneously sued Hank Greenberg for a billion dollars and asked the court to dismiss shareholder claims against themselves. As Mr. Greenberg's answer shows:
* there is no ...