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Post date: July 26 2006

Statement By Darren Dopp, Communications Director For The New York State Department Of Law, Regarding Motions In The Grasso Case

"Two years ago, after a comprehensive investigation, our office said that the facts and law require Kenneth Langone to stand trial for violating his obligation to disclose material aspects of Richard Grasso's compensation to his fellow New York Stock Exchange directors.

Today, Mr. Langone was told the same thing by a court of law. This comes after Mr. Langone spent millions of dollars to attack the Attorney General, distort and deny the facts, and delay the case.

Specifically, the Court said that our case had "raised hundreds of issues" for which Mr. Langone must answer. We are gratified that the Court agrees with us, and look forward to a trial on our claims.