Former AIG Chief Greenberg Receives Wells Notice


Maurice "Hank" Greenberg, former chief executive of American International Group, may face civil charges from the U.S. Securities and Exchange Commission, his lawyer said on Wednesday.

Greenberg received a "Wells notice" from the U.S. Securities and Exchange Commission on Friday. A Wells notice signals that regulators are considering civil charges and gives the recipient a chance to mount a defense.

Greenberg's attorney, Robert Morvillo, said in an e-mailed statement: "We remain confident of our position on the merits, and we believe that none of the remaining issues are material to AIG's financial statements."