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N.Y. Court Backs Grasso in Pay Suit; Dismissal of 4 Claims Is Upheld; 2 Charges Remain
- Article from:
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The Washington Post
- Article date:
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June 26, 2008
- Author:
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Copyright informationCopyright 2008 The Washington Post. This material is published under license from the Washington Post. All inquiries regarding rights should be directed to the Washington Post. (Hide copyright information)
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New York's top court yesterday upheld a lower court ruling that
tossed out four of the state's legal claims challenging the nearly
$190 million compensation package of former New York Stock Exchange
chairman Dick Grasso.
The justices ruled that former state attorney general Eliot L.
Spitzer, who brought suit against Grasso alleging that his
compensation was excessive, did not have the legal authority to make
the claims.
Although the court decision did not affect two other claims
included in the lawsuit, legal analysts said those would require a
higher burden of proof, making it more likely that Grasso would be
able to keep his money.
Chief Judge of the State of New York Judith Kaye wrote ...
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