Federal Judiciary

BURNED BY GRASSO
By Mark Thompson
markthomp@yahoo.com
Posted 07-09-08

Justice Charles E. Ramos, the most often-reversed judge in New York County Supreme Court’s Commercial Division so far this year, picked up another reversal—in the Appellate Division ruling dismissing the last remaining causes of action in the long-running suit over former New York Stock Exchange Chairman Richard Grasso’s hefty paycheck.

Two years ago, Grasso’s attorneys tried to get Ramos kicked off the case for a purported conflict of interest. The appellate courts allowed Ramos to stay on. But appellate panels have repeatedly rejected his rulings on the merits of the case, which have endorsed the state attorney general’s theory that the $187.5 million in compensation that Grasso was awarded during his eight years as head of the exchange was so excessive that it violated New York’s Not-For-Profit Corporation Law.
 

Full post as published by Judicial Reports on July 09, 2008 (boomark / email).