Suit against former NYSE chairman Grasso sent back to state court News
Suit against former NYSE chairman Grasso sent back to state court

[JURIST] The lawsuit filed by New York Attorney General Eliot Spitzer against former New York Stock Exchange chairman Richard Grasso over Grasso's $187.5 million compensation was sent back to state court late Thursday by US District Judge Gerard Lynch. Although Grasso's attorneys argued the lawsuit should be in federal court because the SEC regulates the NYSE, Lynch sent the lawsuit back to state court because no federal statutes are involved and the subject matter involves a violation of New York's non-profit law against excessive executive compensation. AP has more. The complaint filed against Grasso and the NYSE can be found here [PDF].

THIS DAY @ LAW

Justice Department brings anit-trust action against AT&T

On November 20, 1974, the Department of Justice filed its final anti-trust suit against AT&T. United States v. AT&T was ultimately settled out of court with an agreement that the corporation would break up its monopoly on phone service throughout the country.

Nuremberg war crimes trials began

On November 20, 1945, the war crimes trials of Nazi World War II leaders began in the German city of Nuremberg. Review the Nuremberg Tribunal's Charter and the verdicts and sentences handed down on major war figures.

Winston Churchill born

On November 20, 1874, Sir Winston Churchill was born in Woodstock, England. He would go on to lead the United Kingdom as Prime Minister through World War II. Toward the end of the war, Churchill worked with US President Franklin D. Roosevelt to craft the treaties and accords that have defined the world since WWII. A 2002 poll by the BBC declared Churchill the Greatest Briton of all time.

New Jersey ratifies Bill of Rights

New Jersey ratified the Bill of Rights, a set of 10 fundamental amendments to the US Constitution, on November 20, 1789, becoming the first state to do so. The state also ratified an amendment on federal representation which ultimately failed. Additionally, New Jersey rejected an amendment on congressional salaries, which would eventually become the 27th Amendment more than 200 years later. Read the articles ratified by New Jersey.