Grasso Wins Delay In Compensation Case

Former New York Stock Exchange Chief Dick Grasso won't have to pay back his massive compensation package -- at least not yet, according to CNBC's Charles Gasparino. The New York State Appellate Division has ordered a "stay" of the recent summary judgment from State Supreme Court judge Charles Ramos that could have forced Grasso to repay more than $100 million of his compensation that is a subject of a civil case brought by New York State Attorney General Eliot Spitzer.

The appellate division also stayed several other rulings made by Ramos pending appeals: His decision to rule on the case from the bench, instead of before a jury, as well as his decision to remain as the judge on the case. Grasso wants him off citing conflicts of interest because Ramos had applied to be a NYSE board member. The judge also stayed pending appeal several pleas made by Spitzer's office.

Contact U.S. News


    Get the best of CNBC in your inbox

    To learn more about how we use your information,
    please read our Privacy Policy.
    › Learn More

Don't Miss

U.S. Video