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Dick Grasso Wins Right to be Filthy Rich

Posted by Jason on 07/02 | 07:33 AM (0) Comments •
The battle to strip the former NYSE Chairman of a windfall $190 million final payment for his years at the exchange is over and Dick Grasso is sitting pretty.

The legal fight started by the then state Attorney General Eliot Spitzer at a cost of $70million in legal fees was settled by the state Court of Appeals after they threw out four of the hardest to prove claims against Grasso according to the NY Post.

The appellate court's 99-page decision laid out a few surprises - mainly that Spitzer was "unquestionably authorized" to go after Grasso under the law to recover as much as $150 million of his pay. But that was only when it was a not-for-profit entity.


The three-judge panel also questioned whether the attorney general should waste public funds to sue a company that's no longer a not-for-profit. Such a move, the court said, would raise "grave and doubtful constitutional questions."


The current state Attorney General Andrew Cuomo said he would not pursue the case and that is was "over".




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