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.