Lawyers Wrestle Over Grasso Compensation

Law360, New York (September 19, 2006, 12:00 AM EDT) -- A week after Richard Grasso scored a trial delay, a lawyer for Eliot Spitzer has asked a judge to grant partial summary judgment in the excessive executive compensation case against the former New York Stock Exchange chairman.

On Monday, Avi Schick argued before New York Supreme Court Justice Charles Ramos that Grasso shirked his duty by failing to inform the NYSE’s board of directors that pay raises he received would result in his retirement benefits skyrocketing.

Schick requested that the judge order Grasso to return the...
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