New York's solicitor general Tuesday defended the state AG's involvement in litigation to force former New York Stock Exchange Chairman Richard A. Grasso to give back some of his $185 million compensation package. Barbara D. Underwood argued before the state's high court that Attorney General Andrew Cuomo's common law power of parens patriae allows him to act as the protector of the rights of NYSE members, who, she contended, were largely in the dark about what NYSE leaders were paying Grasso.
June 04, 2008 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
New York’s solicitor general Tuesday defended the attorney general’s involvement in litigation to force former New York Stock Exchange Chairman Richard A. Grasso to give back some of his $185 million compensation package.
Barbara D. Underwood argued before the seven members of the Court of Appeals that Attorney General Andrew M. Cuomo’s common law power of parens patriae allows him to act as the protector of the rights of those who are unable to protect themselves.
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