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New York Atty General office says Grasso case over

1/07/2008 - 21:39

NEW YORK (Reuters) - A spokesman for New York Attorney General Andrew Cuomo on Tuesday said the state will end a four-year lawsuit that tried to make former New York Stock Exchange Chairman Richard Grasso return more than $100 million in compensation.

Earlier on Tuesday, the state Supreme Court's appellate division dismissed legal claims against Grasso, who has battled to keep $187.5 million of pay from the Big Board. The ruling was Grasso's second big court victory in the past week.

"We have reviewed the court's opinion and determined that an appeal would not be warranted. Thus, for all intents and purposes, the Grasso case is over," said Alex Detrick, Cuomo's press secretary.

Detrick said Cuomo declined to comment directly on the ruling.

When he took office as attorney general last year, Cuomo decided to pursue a lawsuit filed in 2004 by his predecessor, former New York Governor Eliot Spitzer.

(Reporting by Joseph A. Giannone; editing by Carol Bishopric)


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