The legal battle between New York Attorney General Eliot Spitzer and Richard Grasso, the former head of the New York Stock Exchange, over Grasso's $187.5 million compensation package will be fought in state, not federal, court a federal judge ruled Thursday. Although the decision is a victory for Spitzer, lawyers say Spitzer faces significant legal hurdles in showing that Grasso violated New York's nonprofit laws and in determining the reasonability of Grasso's salary.
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Spitzer Must Overcome Hurdles to Prove Grasso's Compensation Was Unreasonable
New York Law Journal
December 13, 2004
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