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Judge rules against Merrill's bonus secret

Judge rules against Merrill's bonus secret

A NEW York state judge ruled yesterday that New York’s attorney general Andrew Cuomo could disclose the names of executives at Merrill Lynch who received 2008 bonuses ahead of Bank of America’s acquisition of the brokerage firm.

A NEW York state judge ruled yesterday that New York’s attorney general Andrew Cuomo could disclose the names of executives at Merrill Lynch who received 2008 bonuses ahead of Bank of America’s acquisition of the brokerage firm. 


Justice Bernard J. Fried of New York State Supreme Court rejected arguments that the information was a trade secret and that there was no legal basis for the “proposed petitions to quash, fix conditions or modify subpoena and for a protective order”. He ordered them to turn over the list of names.


The attorney general has been demanding the names of Merrill’s 200 most highly paid employees as part of his investigation of the firm’s acquisition. The names could be released as early as today.


 

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