Kenneth Langone hires crisis management firm

WASHINGTON: McCarthy Communications, a Washington, DC-based PR firm specializing in crisis management, is representing Kenneth Langone, the former member of New York Stock Exchange board of directors named in a lawsuit filed Monday by New York Attorney General Eliot Spitzer.

WASHINGTON: McCarthy Communications, a Washington, DC-based PR firm specializing in crisis management, is representing Kenneth Langone, the former member of New York Stock Exchange board of directors named in a lawsuit filed Monday by New York Attorney General Eliot Spitzer.

Jim McCarthy, president of McCarthy Communications, said his firm was planning an aggressive strategy on behalf of Langone but withheld comment on it for now. Spitzer filed the lawsuit in New York State Supreme Court against Langone, as well as against the exchange and its former chairman and CEO Richard Grasso The civil suit seeks to rescind more than $100 million of Grasso's $187.5-million pay package awarded to him by the exchange's compensation committee. Langone chaired that committee for nearly three years. Langone said in a statement issued by McCarthy that the NYSE's board of directors researched and supported Grasso's compensation "100 percent." "I am standing up for my convictions and firmly behind those decisions," he said, "and so if Mr. Spitzer wants to grandstand in the press, he's doing it on a very shaky soapbox." Langone, a co-founder of Home Depot, left the board in late 2003. RELATED: NYSE remains quiet amidst Spitzer lawsuit

Starkman verifies representation of ex-NYSE chairman

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