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Article: N.Y. Court Dismisses 4 Charges in Grasso Case
- Article from:
- The Washington Post
- Article date:
- May 9, 2007
- Author:
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Copyright informationThis 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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Former New York Stock Exchange chief executive Dick Grasso won a
significant victory yesterday when an appeals court dismissed four
of six charges against him in a long-running dispute over his
outsize compensation package.
New York Attorney General Andrew M. Cuomo (D) said he expected to
appeal the ruling, which cast doubt on his authority to supervise
operations of nonprofit groups in the state. The appeals court
dismissed four allegations on the ground that they exceeded New
York's Not-for-Profit Corporation Law -- the basis of charges that
Grasso's $188 million paycheck was unreasonable given his job
description.
The decision would still allow state authorities to proceed
against ...
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