Greenberg Blames Restatement For AIG Stock Woes

It was American International Group accounting change blunders in 2005 that hurt the company’s stock, not any misdeeds on his part, AIG’s ousted chairman and chief executive officer, Maurice Greenberg, argues in new court papers.

A filing by his attorneys was made Tuesday in Manhattan’s New York State Supreme Court–a county level tribunal–where Mr. Greenberg and AIG’s former chief financial officer, Howard Smith, are defendants in a civil case brought by the New York Attorney General’s Office alleging market fraud at the insurer.