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Setback For Spitzer In Grasso Case?

New York Attorney General Eliot Spitzer may suffer a setback in his case against former New York Stock Exchange Chairman Richard Grasso at the hands of a state appellate court panel.

New York Attorney General Eliot Spitzer may suffer a setback in his case against former New York Stock Exchange Chairman Richard Grasso at the hands of a state appellate court panel. Spitzer has sued Grasso, claiming the exchange was misled about his $190 million compensation package, but the panel is questioning whether the AG had the authority to bring the action in the first place.

“What’s at stake is who gets to say whether [Grasso] gets to keep the money or not,” Judge James McGuire said at the hearing, reported The New York Post. “Maybe it’s a problem for the legislature to fix, not whether the attorney general has the power the legislature didn’t give him.”

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