Richard Grasso, former chairman of the New York Stock Exchange, lost his bid to move the lawsuit over his $187.5 million pay package to federal court. A New York district court judge ruled Thursday that the case was best suited for state court, since state Attorney General Elliot Spitzer's suit claims Grasso and the NYSE violated the state's not-for-profit law by allowing Grasso "excessive compensation." Spitzer is seeking to take back at least $100 million from Grasso.
December 10, 2004 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
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