AIG Shareholders Won't Drop PWC, Marsh Claims

Law360, New York (October 2, 2007, 12:00 AM EDT) -- Shareholders of American International Group Inc. are suing PricewaterhouseCoopers LLP, Marsh McLennan Cos. Inc., ACE Ltd. and dozens of other defendants despite AIG's June decision to only pursue claims against former CEO Maurice Greenberg and former CFO Howard Smith.

In a 191-page combined amended complaint filed Friday in Delaware's Chancery Court, the shareholders levied derivative claims against PricewaterhouseCoopers, claiming that the independent auditor failed to flag deficient internal controls while other defendants manipulated AIG's accounting and reported financial statements.

AIG filed a “motion to terminate and...
To view the full article, register now.