Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Tuesday, July 1, 2008

New York Court Throws Out Remaining Claims Against Grasso

It looks like former NYSE CEO Richard Grasso gets to keep all his money.  A week after the New York Court of Appeals threw out four claims against him, the state's intermediate appellate court threw out the remaining two.  It ruled that the Attorney General no longer had the power to pursue the claims against Grasso under the state's not-for-profit statute since the NYSE has become a public for-profit corporation.  The New York Attorney General's Office stated that it would not appeal the decision.  WSJ, Court Overturns Ruling That Grasso Must Return Part of Compensation.

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