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ALBANY, N.Y. (AP) - New York Attorney General Eliot Spitzer on Thursday filed a civil suit against American International Group Inc., accusing the nation's largest insurance company and two former top executives of using "deception and fraud" to boost the company's stock price.
The suit filed in state Supreme Court in Manhattan accused AIG's former chief executive, Maurice "Hank" Greenberg, and chief financial officer, Howard I. Smith, of orchestrating an accounting scheme that made AIG's financial picture appear brighter than it was, misleading both investors and state regulators.
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ALBANY, N.Y. -- New York Attorney General Eliot Spitzer on Thursday filed a civil suit against American International Group Inc., accusing the nation's largest insurance company and two former top executives of using "deception and fraud" to boost the company's stock price.
The suit filed in state Supreme Court in Manhattan accused AIG's former chief executive, Maurice "Hank" Greenberg, and former chief financial officer, Howard I. Smith, of orchestrating an accounting scheme that made AIG's financial picture appear brighter than it was, misleading both investors and state regulators.
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American International Group Inc. has agreed to settle all legal disputes with its former chairman Maurice "Hank" Greenberg, the company said late Wednesday. The insurance company, which was bailed out by the government and is now owned by U.S. taxpayers, also resolved its complaints against former Chief Financial Officer Howard I. Smith.
BofA CEO search stuck in neutral
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NEW YORK - American International Group Inc. has agreed to settle all legal disputes with its former chairman Maurice "Hank" Greenberg, the company said late Wednesday.
The insurance company, which was bailed out by the government and is now owned by U.S. taxpayers, also resolved its complaints against former Chief Financial Officer Howard I. Smith. AIG said it will pay up to $150 million in past legal fees and expenses for both Greenberg and Smith. The agreement calls for the reimbursements to be reviewed by a third party.
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NEW YORK - American International Group Inc. has agreed to settle all legal disputes with its former chairman Maurice "Hank" Greenberg, the company said late Wednesday.
The insurance company, which was bailed out by the government and is now owned by U.S. taxpayers, also resolved its complaints against former Chief Financial Officer Howard I. Smith. AIG said it will pay up to $150 million in past legal fees and expenses for Green-berg and Smith. The agreement calls for the reimbursements to be reviewed by a third party.
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ALBANY, N.Y. New York Attorney General Eliot Spitzer on Thursday filed a civil lawsuit against American International Group Inc., accusing the nation's largest insurance company and its former chief executive officer of using "deception and fraud" to boost the company's stock price.
The lawsuit filed in state Supreme Court in Manhattan named New York-based AIG, former CEO Maurice "Hank" Greenberg and former AIG Chief Financial Officer Howard I. Smith.
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ALBANY, N.Y. - New York Attorney General Eliot Spitzer on Thursday filed a civil suit against American International Group Inc., accusing the nation's largest insurance company and two former top executives of using "deception and fraud" to boost the company's stock price.
The suit filed in state Supreme Court in Manhattan accused AIG's former chief executive, Maurice "Hank" Greenberg, and former chief financial officer, Howard I. Smith, of orchestrating an accounting scheme that made AIG's financial picture appear brighter than it was, misleading both investors and state regulators.
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NEW YORK (AP) -- American International Group Inc. has agreed to settle all legal disputes with its former chairman Maurice "Hank" Greenberg, the company said late Wednesday.
The insurance company, which was bailed out by the government and is now owned by U.S. taxpayers, also resolved its complaints against former Chief Financial Officer Howard I. Smith. AIG said it will pay up to $150 million in past legal fees and expenses for both Greenberg and Smith. The agreement calls for the reimbursements to be reviewed by a third party.
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