Spitzer won't settle Grasso suit

New York Attorney General Eliot Spitzer said Tuesday he would not settle his lawsuit against former New York Stock Exchange Chairman Richard Grasso.

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Spitzer, speaking at a Money magazine conference in New York City, said there was "no way, no how" he would settle with Grasso. "It is absolutely inconceivable that I will settle it now. We can win this case."

Last month, Spitzer sued Grasso, seeking the return of at least $100 million from his controversial compensation package. The lawsuit brought to a head the battle over Grasso's pay, which led to the overhaul of the world's largest stock market and Grasso's resigned under pressure last September.