Greenberg Fires Back: Sues AIG Board, Management

Maurice Greenberg, ex-chairman of American International Group, responded to AIG's $1 billion fiduciary misconduct action against him with a countersuit yesterday saying the firm's directors and manag

By Daniel Hays | Updated on June 21, 2007

Maurice Greenberg, ex-chairman of American International Group, responded to AIG’s $1 billion fiduciary misconduct action against him with a countersuit yesterday saying the firm’s directors and management made an “unjustifiable” $1.6 billion regulatory settlement.

Mr. Greenberg–who was forced out as AIG chairman and chief executive officer in March 2005–also charged that former and present management and the firm’s auditors, PricewaterhouseCoopers, unnecessarily and improperly restated past company earnings.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
Educational webcasts, resources from industry leaders, and informative newsletters.
Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account? Sign In Now

Recommended Stories

Data privacy issues for 2023 - Which trends should companies be watching?

Dr. Viola Bensinger, Gretchen A. Ramos, Jena M. Valdetero & David A. Zetoony | February 03, 2023

Here are five issues in the data privacy and cybersecurity space that businesses may see trending in 2023.

Flood insurance misconceptions debunked

Trevor Burgess | February 03, 2023

Many homeowners who need flood insurance do not have that protection in place. Why?

People on the move in the P&C insurance industry: February 3, 2023

PC360 Staff Writer | February 03, 2023

The latest insurance industry personnel news from OneDigital, NFP, Mitchell Sandler and more.

Resource Center

This on-demand webinar shares new data and statistical analysis regarding the ongoing knowledge transfer being seen in the marketplace. Discover ways to help strengthen relationships between carriers and agencies.

On-Demand Webinar

Sponsored by Vertafore

The ABCs of Generations X, Y and Z

This on-demand webinar shares new data and statistical analysis regarding the ongoing knowledge transfer being seen in the marketplace. Discover ways to help strengthen relationships between carriers and agencies.

Browse More Resources ›

As property risk shifts to reflect a changing climate, having accurate, updated geolocation data is more important than ever. Download this white paper and learn how you can gain access to rich geolocation data that provides a current, complete picture of a property to be assessed.

White Paper

Sponsored by Melissa

Effective Use of Geolocation to More Accurately Manage Risk

As property risk shifts to reflect a changing climate, having accurate, updated geolocation data is more important than ever. Download this white paper and learn how you can gain access to rich geolocation data that provides a current, complete picture of a property to be assessed.

Browse More Resources ›

Modern-day insurance agencies reflect the need for renowned digital strategies in order to sustain long-term growth. Download this in-depth guide to learn tips and tactics to grow your insurance business by improving acquisition, conversion, retention and revenue:

Guide

Sponsored by Agentero

The Master Guide to Grow Your Insurance Agency in the Digital Age

Modern-day insurance agencies reflect the need for renowned digital strategies in order to sustain long-term growth. Download this in-depth guide to learn tips and tactics to grow your insurance business by improving acquisition, conversion, retention and revenue:

Browse More Resources ›

PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now

Copyright © 2023 ALM Global, LLC. All Rights Reserved.