ISR News: See The AIG, Merrill Lynch Docs
Excerpts From Dealbook
A New York state judge ruled Wednesday afternoon that New York’s attorney general could disclose the names of executives at Merrill Lynch who received 2008 bonuses ahead of Bank of America’s acquisition of the brokerage firm, rejecting arguments that the information was a trade secret.
“The record does not support the intervenors’ claim that the employee compensation information is a trade secret,” Justice Bernard J. Fried of New York State Supreme Court wrote, referring to Merrill and Bank of America. He ordered them to turn over the list of names.
Attorney General Andrew M. Cuomo 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 Thursday.
Lawyers for Merrill and Bank of America argued last Friday that the names should not be disclosed publicly, since they were as much a trade secret as the recipe for Carvel ice cream. They sought a protective order to modifying a subpoena from Mr. Cuomo to include a confidentiality provision.
Judge Fried rejected that motion. “I conclude there is no legal basis for the proposed petitions to quash, fix conditions or modify subpoena and for a protective order,” he said in his ruling.
Scott Silvestri, a Bank of America spokesman, said in a statement that the bank “will of course comply with the order of the court and turn over the information.”
Mandate - Merrill Bonus Info Disclosure
Schedule to A.I.G. Master Agreement
A.I.G.’s Employee Retention Plan
Letter Demanding A.I.G. Bonus Information
Filed under: Class Action Lawsuit, D&O Liability, Financial, Government, ISR News, Uncategorized
Comments
3 Comments on ISR News: See The AIG, Merrill Lynch Docs
-
Serious Problem: More than half of BIGGEST BAILOUT Firms Owe Back TAXES! « TriStar Research’s Blog on
Thu, 19th Mar 2009 8:10 pm
-
MortgageNewsClips: TARP in Excel, Left vs Right, Prieur’s 26 Videos, Debt Foray, Fed Balance Sheet 2, MErrill AIG Documents, Bernanke Acts, A Curious Solution, New Website, B of A Merrill, All About Debt, Barney Sez Cancel, Ben Speech, Vinny’s on
Sun, 22nd Mar 2009 3:25 pm
-
MortgageNewsClips: TARP in Excel, Left vs Right, Prieur’s 26 Videos, Debt Foray, Fed Balance Sheet 2, MErrill AIG Documents, Bernanke Acts, A Curious Solution, New Website, B of A Merrill, All About Debt, Barney Sez Cancel, Ben Speech, Vinny’s Quotes, on
Sun, 22nd Mar 2009 7:52 pm
[...] Minds Want to Know- Large $, False Representations? So it’s the whole group and now it’s clear that revealing the names of recipients of “retention bonuses” who then leave is not a “trade secret”. Here’s [...]
[...] at all the Merrill AIG documents - ISR News: See The AIG, Merrill Lynch Docs - Information Security Resources [...]
[...] at all the Merrill AIG documents - ISR News: See The AIG, Merrill Lynch Docs - Information Security Resources [...]
Tell me what you're thinking...
and oh, if you want a pic to show with your comment, go get a gravatar!
