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From Bloomberg News

A panel of appeals court judges Thursday questioned whether New York Atty. Gen. Eliot Spitzer had the legal authority to bring a lawsuit against former New York Stock Exchange Chairman Richard Grasso over his $190-million pay package.

Judges on the panel said the legal issues stemming from the dispute between Grasso and Spitzer might be better handled by lawmakers and not the courts. “Maybe it’s a problem for the legislature to fix,” said Judge James McGuire Jr.

Grasso and his lawyers were appealing a March ruling by Manhattan State Supreme Court Judge Charles Ramos that denied Grasso’s request to dismiss the case.

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The appeals court didn’t make a decision Thursday, and lawyers involved in the case said they didn’t know when the panel would rule.

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