Former American International Group, Inc. chairman MauriceGreenberg has taken aim at his former company, calling its $4billion earnings restatement "exaggerated and unnecessary" andcreated to justify his ouster.
In a 50-page document prepared by Mr. Greenberg's lawyers, andpresented to regulators yesterday, Mr. Greenberg laid much of theblame of the accounting discrepancies at the feet of otherexecutives and the company's auditor PricewaterhouseCoopers, NewYork.
Mr. Greenberg has been the target of both state and federalinvestigators for alleged accounting misdeeds that resulted in theinsurance giant's late May financial restatement that lowered netincome by $4 billion.
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