Greenberg Sued To Rescind Stock Gift To Wife

Ohio Attorney General Jim Petro has sued former American International Group boss Maurice Greenberg and his wife Corinne to rescind the transfer of millions ...

By Staff Writer | Updated on February 04, 2005

Ohio Attorney General Jim Petro has sued former American International Group boss Maurice Greenberg and his wife Corinne to rescind the transfer of millions of Mr. Greenberg’s AIG shares to his wife that took place just days before he stepped down as chief executive.

The stock transfer, which was described as Mr. Greenberg’s “gift” to his wife, consisted of 41 million shares of AIG common stock worth more than $2.6 billion. The transaction took place just two days before Mr. Greenberg relinquished his role as AIG’s chief executive in March.

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