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Hank Greenberg sues AIG, saying it hid losses

By MarketWatch

Last Update: 12:01 PM ET May 11, 2008

NEW YORK (MarketWatch) — The Starr Foundation, headed by American International
Group Inc.’s former chief executive Hank Greenberg, filed a lawsuit Friday
against AIG, according to a published report.

A story in the New York Post on Sunday reported Greenberg claims the company
(AIG) hid $4 billion in losses in its portfolio of credit default swaps.

The suit, filed in state court in Manhattan, said AIG “misrepresented and
concealed the truth” about the losses, adding that if Starr knew of AIG’s them,
it would have sold its shares, according to the Post.

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Technorati Tags: Aig, American International Group, American International Group Inc, Cds, Chief Executive, Credit Default Swaps, Hank Greenberg, Hid, International Group Inc, Losses, Manhattan, Marketwatch, New York Post, Portfolio, Starr Foundation, Truth About