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Article: New York AG Spitzer sues ex-NYSE head Grasso over pay.
- Article from:
- The Philadelphia Inquirer (Philadelphia, PA)
- Article date:
- May 24, 2004
CopyrightCOPYRIGHT 2004 The Philadelphia Inquirer. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Miriam Hill
NEW YORK _ New York Attorney General Eliot Spitzer filed suit Monday against former New York Stock Exchange Chairman Richard Grasso, calling his pay "wholly inappropriate and illegal" and demanding that he return $100 million.
The lawsuit also names Kenneth Langone, the former head of the exchange's compensation committee and a co-founder of Home Depot Inc.
Grasso resigned in September after furor erupted over disclosure of his $187.5 million pay package. Monday, he said in a statement that he was disappointed that Spitzer had intervened in what Grasso said was a private dispute between him and his employer.
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