Maurice Hank Greenberg

Lawyers for former American International Group Inc. Chief Executive Maurice "Hank" Greenberg have questioned a decision to cut $2.26 billion from the insurer's net worth and said PricewaterhouseCoopers' role in the insurer's accounting woes should be examined.

In 1984, while flying at 43,000 feet, both engines on American International Group's corporate jet failed. The pilot "calmly but quickly" conferred on which airport he should try to reach with Maurice "Hank" Greenberg, AIG's chief executive. (One engine later restarted, ending the crisis.) If it is unclear to you why a pilot should take advice on how to tackle an air emergency from the head of an insurance company, you clearly don't know Greenberg, who took the helm of AIG in 1967 and was kicked out by his board in 2005.

PricewaterhouseCoopers will pay $97.5 million to settle a lawsuit claiming the accounting firm helped mislead investors in American International Group Inc. A tentative settlement of the suit was announced by Ohio Atty. Gen. Nancy Rogers, who is prosecuting the case on behalf of plaintiffs including the Ohio Public Employees Retirement System. An investigation by then-New York Atty. Gen. Eliot Spitzer and U.S. regulators triggered a $3.9-billion earnings restatement by AIG in May 2005 and led to the ouster of Maurice "Hank" Greenberg, who had been chief executive of the company for almost 40 years.

WASHINGTON -- At the same time American International Group Inc. has been running high-profile ads thanking America for the bailout that saved the company, the insurance giant reportedly is considering joining a shareholder suit against the U.S. government for the rescue. The AIG board will meet Wednesday and could decide to join a $25-billion suit led by former chief executive Maurice "Hank" Greenberg, the New York Times reported . The suit by Greenberg's Starr International Co. alleges that the 2008 bailout of AIG by the Treasury Department and Federal Reserve Bank of New York in which the government received an 80% ownership stake in the company violated the rights of shareholders.

Maurice "Hank" Greenberg, former chief executive of American International Group Inc., has said the insurer is in crisis and urged a delay in its annual general meeting scheduled for Wednesday, according to a letter he sent to the board. AIG said Monday that its board sees no need to postpone the meeting, according to a spokesman. "Several top shareholders of AIG have called me expressing deep concern about the persistent and seemingly endless destruction of value at AIG," Greenberg said in the Sunday letter, which was filed with the Securities and Exchange Commission on Monday.

Maurice "Hank" Greenberg resigned late Wednesday from the board of American International Group Inc., the insurance company he led as chief executive for nearly 40 years. Greenberg's resignation was effective immediately, AIG spokesman Chris Winans said. Greenberg resigned in a short letter faxed to the board, the Wall Street Journal reported on its website.

Maurice "Hank" Greenberg, the ousted chief executive of American International Group Inc., may be willing to negotiate with New York Atty. Gen. Eliot Spitzer to settle a fraud lawsuit, one of Greenberg's lawyers said. "If a reasonable resolution could be reached without litigation, that's obviously in everybody's interest," attorney David Boies said in an interview Friday. "I think there will be some serious settlement discussions."

The man who built insurance giant American International Group Inc. from a start-up to a global behemoth said he didn't mismanage the company -- but the government did. Following weeks of public and congressional outrage over the largest corporate failure in U.S. history, Maurice "Hank" Greenberg, AIG's chief executive until March 2005, said taxpayers got a raw deal in the ensuing bailout.

Maurice "Hank" Greenberg, American International Group Inc.'s former chief executive, will reverse a transaction that transferred his fortune in AIG shares to his wife days before accounting probes forced him to resign, his lawyers said Tuesday. Greenberg and his wife, Corinne, will both own the 41.1 million shares after the transfer is canceled. The transfer, valued at $2.

WASHINGTON -- At the same time American International Group Inc. has been running high-profile ads thanking America for the bailout that saved the company, the insurance giant reportedly is considering joining a shareholder suit against the U.S. government for the rescue. The AIG board will meet Wednesday and could decide to join a $25-billion suit led by former chief executive Maurice "Hank" Greenberg, the New York Times reported . The suit by Greenberg's Starr International Co. alleges that the 2008 bailout of AIG by the Treasury Department and Federal Reserve Bank of New York in which the government received an 80% ownership stake in the company violated the rights of shareholders.

Maurice "Hank" Greenberg, former chief executive of American International Group Inc., said Tuesday that a retirement bonus fund that AIG was trying to reclaim in court was not intended solely for AIG employees. The New York-based insurance giant has accused Greenberg, through a company called Starr International that he controls, of plundering an AIG retirement program composed of $4.3 billion in stock in 2005.

The man who built insurance giant American International Group Inc. from a start-up to a global behemoth said he didn't mismanage the company -- but the government did. Following weeks of public and congressional outrage over the largest corporate failure in U.S. history, Maurice "Hank" Greenberg, AIG's chief executive until March 2005, said taxpayers got a raw deal in the ensuing bailout.

PricewaterhouseCoopers will pay $97.5 million to settle a lawsuit claiming the accounting firm helped mislead investors in American International Group Inc. A tentative settlement of the suit was announced by Ohio Atty. Gen. Nancy Rogers, who is prosecuting the case on behalf of plaintiffs including the Ohio Public Employees Retirement System. An investigation by then-New York Atty. Gen. Eliot Spitzer and U.S. regulators triggered a $3.9-billion earnings restatement by AIG in May 2005 and led to the ouster of Maurice "Hank" Greenberg, who had been chief executive of the company for almost 40 years.

Maurice "Hank" Greenberg, former chief executive of American International Group Inc., has said the insurer is in crisis and urged a delay in its annual general meeting scheduled for Wednesday, according to a letter he sent to the board. AIG said Monday that its board sees no need to postpone the meeting, according to a spokesman. "Several top shareholders of AIG have called me expressing deep concern about the persistent and seemingly endless destruction of value at AIG," Greenberg said in the Sunday letter, which was filed with the Securities and Exchange Commission on Monday.

Lawyers for former American International Group Inc. Chief Executive Maurice "Hank" Greenberg have questioned a decision to cut $2.26 billion from the insurer's net worth and said PricewaterhouseCoopers' role in the insurer's accounting woes should be examined.

Maurice "Hank" Greenberg, the ousted chief executive of American International Group Inc., may be willing to negotiate with New York Atty. Gen. Eliot Spitzer to settle a fraud lawsuit, one of Greenberg's lawyers said. "If a reasonable resolution could be reached without litigation, that's obviously in everybody's interest," attorney David Boies said in an interview Friday. "I think there will be some serious settlement discussions."

American International Group's proposed $16.5-billion acquisition of SunAmerica Inc., a deal announced Thursday that would create a global force in sales of retirement savings products, puts a spotlight on Eli Broad, one of Southern California's most prominent civic and business leaders. Broad, already one of the region's wealthiest individuals through his ownership of 10% of SunAmerica stock, will become even richer.

Los Angeles-based annuity marketer SunAmerica on Thursday agreed to a $16.5-billion buyout by insurance powerhouse American International Group, a deal that some analysts say could achieve something accomplished by surprisingly few mergers: the uniting of two companies whose businesses actually complement each other. Many companies promise such "synergies" to justify the hefty price tags of their deals.

Maurice "Hank" Greenberg, American International Group Inc.'s former chief executive, will reverse a transaction that transferred his fortune in AIG shares to his wife days before accounting probes forced him to resign, his lawyers said Tuesday. Greenberg and his wife, Corinne, will both own the 41.1 million shares after the transfer is canceled. The transfer, valued at $2.

Maurice "Hank" Greenberg resigned late Wednesday from the board of American International Group Inc., the insurance company he led as chief executive for nearly 40 years. Greenberg's resignation was effective immediately, AIG spokesman Chris Winans said. Greenberg resigned in a short letter faxed to the board, the Wall Street Journal reported on its website.