The Washington Post
Ex-AIG Chief Files Countersuit
Maurice R. “Hank” Greenberg, the ousted chief executive of American International Group, fired back at AIG in a countersuit claiming the insurer’s directors and managers were liable for inappropriate financial restatements.
Greenberg said his successor, Martin Sullivan, and 15 other former and current directors and managers breached their fiduciary duty by making a self-interested decision to blame him for restatements that unnecessarily lowered AIG’s 2000 to 2005 earnings by $3.4 billion. AIG spokesman Joe Norton said the claims, filed in Delaware Chancery Court in response to an AIG lawsuit last week, were “without merit.”