In a memo to federal regulators, lawyers for American International Group Inc.'s former chief executive outlined a case that the company's $3.9 billion earnings restatement was unnecessary and that any blame lay with its auditor of the past two decades, PricewaterhouseCoopers.

In the 50-page document, recently released to the public, lawyers for Maurice "Hank" Greenberg wrote that both the insurance company and PwC knew in advance that retroactive accounting readjustments were to be made. The lawyers added that it was the accounting firm's responsibility to have brought forward concerns to AIG's audit committee earlier.

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