State Court Tosses Remaining Claims Against Grasso

Law360, New York (July 1, 2008, 12:00 AM EDT) -- A New York state court has dismissed the two remaining claims in state Attorney General Andrew Cuomo's lawsuit over former New York Stock Exchange Chairman Richard Grasso's $187.5 million severance package.

In a 3-1 decision, the New York State Supreme Court's appellate division ruled Tuesday that Cuomo could not keep pursuing a claim for excessive pay against Grasso under a law regulating nonprofits, now that the stock exchange has merged with a private entity. The attorney general had sought to force Grasso to return more than...
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