Ex-NYSE chief can keep 100-million-dollar payout: court

0 Comments | AFP, July, 2008

NEW YORK (AFP) — An appeals court Tuesday gave former New York Stock Exchange (NYSE) chief Richard Grasso a total victory by dismissing all claims seeking reimbursement of a contested 100-million-dollar severance payout.

A mid-level appeals court in Albany, New York, said the state attorney general's authority ended when the NYSE became a for-profit corporation in 2006.

In a statement, state Attorney General Andrew Cuomo said New York would not continue to press the case.

"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," Cuomo's statement said.

Last month, another appeals court dismissed four of the six claims against Grasso, also ruling that state...