Ex-AIG Chief Hits Chinese Ad Co. With Fraud Suit

Law360, New York (March 22, 2011, 6:04 PM EDT) -- An investment firm headed by former American International Group Inc. CEO Hank Greenberg filed suit Friday in Delaware claiming it relied on fraudulent statements when investing about $13.5 million in an embattled Chinese advertising company.

China MediaExpress Holdings Inc., which says it runs the largest television advertising network on buses in China, was revealed to be a fraud when the company couldn't answer media and analyst claims that it wildly overstated the extent of its business network, according to a complaint filed in the U.S. District...
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