Former American International Group, Inc. chairman Maurice Greenberg has taken aim at his former company, calling its $4 billion earnings restatement "exaggerated and unnecessary" and created to justify his ouster.
In a 50-page document prepared by Mr. Greenberg's lawyers, and presented to regulators yesterday, Mr. Greenberg laid much of the blame of the accounting discrepancies at the feet of other executives and the company's auditor PricewaterhouseCoopers, New York.
Mr. Greenberg has been the target of both state and federal investigators for alleged accounting misdeeds that resulted in the insurance giant's late May financial restatement that lowered net income by $4 billion.
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