NEW YORK — Richard Grasso, the former New York Stock Exchange chairman who became a poster child for Wall Street excess, won a court ruling that allows him to keep his entire $190 million pay package. A state appeals court Tuesday dismissed the remaining claims against him for excessive pay.
Attorney General Andrew Cuomo announced he won’t appeal further.
The court said former New York Attorney General Eliot Spitzer, who sued in 2004, lost the authority to recover the money when the Big Board was converted to a for-profit business two years later. Grasso, 61, won a different appeal in the case last week when the state’s highest court threw out four of six claims against him.
The case “vindicates no public purpose,” the court said in an opinion by Justice James M. McGuire. Bloomberg News; AP file photo
