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New York sues AIG over accounting practices.(LAWSUITS)(American International Group Inc)

By Ha, Michael; Ruquet, Mark E.
Publication: National Underwriter Life & Health
Date: Monday, May 30 2005

NEW YORK'S ATTORNEY GENERAL and Insurance Superintendent announced they have filed a civil suit against American International Group alleging that executives at the company used improper accounting practices to pump up the company's earnings to deceive investors and regulators.

The suit, filed in Supreme Court of the state of New York, County of New York, against the New York-based insurance giant, claims the company "engaged in misleading accounting and financial re porting, projecting an unduly positive picture of AIG's underwriting performance for the investing publ

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