N.Y. Appeals Court Backs Grasso In Pay Saga

Law360, New York (June 25, 2008, 12:00 AM EDT) -- New York's highest court has ruled against New York Attorney General Andrew Cuomo in his ongoing battle over former New York Stock Exchange Chairman Richard Grasso's $187.5 million parting gift.

On Wednesday, the New York Court of Appeals ruled unanimously in Grasso's favor, raising the burden of proof for Cuomo at trial. The court disagreed with the state's contention that it had the authority to pursue certain claims against Grasso and upheld a lower court decision to toss out four claims.

Earlier this month, New York...
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