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N.Y. Court Backs Grasso in Pay Suit; Dismissal of 4 Claims Is Upheld; 2 Charges Remain

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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