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subject AIG to Restate Last 4 Years Financials
NEW YORK (Reuters) - American International Group Inc. on Sunday said it will restate its annual financial statements from 2000 to 2003, and would also reduce its net worth by around $2.7 billion due mostly to past accounting errors. The world's largest insurer by market value also delayed the filing of its annual 10-K report with the U.S. Securities and Exchange Commission for a third time, saying it now expects to file it no later than May 31, 2005. AIG, in a press release also said it will restate financial statements for the quarters ended March 31, June 30 and September 30, 2004.
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