Grasso Appeals For Shared Liability to NYSE

Law360, New York (June 7, 2007, 12:00 AM EDT) -- Onetime New York Stock Exchange Chairman Richard Grasso on Thursday asked a New York appeals court to reinstate his liability lawsuit against Carl McCall, the former director of the Big Board of NYSE and past state comptroller.

Grasso argued before the New York Supreme Court's Appellate Division that if he is found to have violated his fiduciary duty by accepting a $187.5 million exit package, McCall should be held liable, said Howard Kleinhendler, an attorney for McCall.

The case is related to the New York State...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.