{"id":1251,"date":"2013-05-18T19:16:39","date_gmt":"2013-05-18T19:16:39","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2013\/05\/exny_governors_pataki_and_cuom"},"modified":"2022-03-10T16:34:32","modified_gmt":"2022-03-10T22:34:32","slug":"exny-governors-pataki-and-cuom","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/exny-governors-pataki-and-cuom\/","title":{"rendered":"Ex-NY Governors Pataki and Cuomo Tell AG Schneiderman to Ease Off On Former AIG Head"},"content":{"rendered":"<p>\t\t\t\tIn a joint op-ed, ex-New York governors George Pataki and Mario Cuomo are asking NY Attorney General Eric Schneiderman to reconsider his efforts to seek remedies, including injunctive relief, against Maurice &#8220;Hank Greenberg,&#8221; the former American International Group (AIG) chief. The former governors believe that not only will such a pursuit waste &#8220;time and money,&#8221; but also, they say that it is &#8220;morally wrong.&#8221;<\/p>\n<p>It was just last month that Schneiderman told the New York State Court of Appeals that the state was dropping its claim seeking possibly billion of dollars in <a href=\"https:\/\/www.stockbroker-fraud.com\">financial fraud <\/a>damages in an eight-year-old case against Greenberg and another ex-executive but that he would continue to hold the defendants responsible by pursuing other remedies, including bans on serving as a public company director\/officer and involvement in the securities industry. Greenberg, who ran AIG for almost 40 years, resigned in 2005 in the wake of an investigation into the insurer&#8217;s accounting practices. He denies wrongdoing. <\/p>\n<p>Last year, a federal judge approved a $115 million settlement with shareholders over the accounting issues that were at the heart of the state&#8217;s lawsuit. (Meantime, investors have also filed related securities fraud against Greenberg and other former AIG executives.) However, despite dropping the claim for fraud damages, Schneiderman has remained adamant about proceeding with a trial against Greenberg. He believes that individuals who commit fraud must be held publicly accountable. Replying to the former NY governors, a spokesperson for the attorney general said as much, all the while noting Schneiderman&#8217;s respect for the two men and their &#8220;longstanding ties&#8221; to Greenberg.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/exny-governors-pataki-and-cuom\/\"  title=\"Continue Reading Ex-NY Governors Pataki and Cuomo Tell AG Schneiderman to Ease Off On Former AIG Head\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>In a joint op-ed, ex-New York governors George Pataki and Mario Cuomo are asking NY Attorney General Eric Schneiderman to reconsider his efforts to seek remedies, including injunctive relief, against Maurice &#8220;Hank Greenberg,&#8221; the former American International Group (AIG) chief. The former governors believe that not only will such a pursuit waste &#8220;time and money,&#8221; [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3741],"tags":[2507],"class_list":["post-1251","post","type-post","status-publish","format-standard","hentry","category-securities-fraud","tag-aig"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Ex-NY Governors Pataki and Cuomo Tell AG Schneiderman to Ease Off On Former AIG Head &#8212; Investor Lawyers Blog &#8212; May 18, 2013<\/title>\n<meta name=\"description\" content=\"In a joint op-ed, ex-New York governors George Pataki and Mario Cuomo are asking NY Attorney General Eric Schneiderman to reconsider his efforts to seek &#8212; May 18, 2013\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/exny-governors-pataki-and-cuom\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Ex-NY Governors Pataki and Cuomo Tell AG Schneiderman to Ease Off On Former AIG Head &#8212; 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