Bank of America Must Reveal Bonus Info
Wednesday, March 18, 2009
New York, NY –
A judge is ordering Bank of America to disclose information about bonuses given to employees at Merrill Lynch, just before B of A bought the brokerage company. New York Attorney General Andrew Cuomo and B of A have been sparring over the release of the information. Cuomo is investigating whether B of A and Merrill failed to provide proper disclosures to shareholders about the bonuses. The judge's order reverses a temporary order keeping individual bonus information confidential, put in place last month after Merrill's former CEO, John Thain, testified about the bonuses.