NYSE remains quiet amidst Spitzer lawsuit

NEW YORK: The New York Stock Exchange is keeping officially quiet after New York Attorney General Eliot Spitzer sued it on May 24.

NEW YORK: The New York Stock Exchange is keeping officially quiet after New York Attorney General Eliot Spitzer sued it on May 24.

The stock exchange was named in a lawsuit filed against former NYSE chairman and CEO Richard Grasso and a former exchange board member, Kenneth Langone.

"We are supportive of Attorney General Spitzer's efforts in this matter," read a statement posted on the NYSE's web site after the suit was filed several blocks away in State Supreme Court. "As a named party, it would be inappropriate to comment further."

Capping a four-month investigation, the civil suit seeks to rescind Grasso's $187.5-million pay package awarded to him by the exchange's compensation committee. Langone chaired the committee from 2000 through 2003. Grasso resigned in September 2003, and Langone left the board late that same year.

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