Bank of America Ordered to Give Bonus Data to N.Y. Attorney General

, New York Law Journal


A Manhattan judge ruled Wednesday that Bank of America must turn over to New York Attorney General Andrew Cuomo a list of employees who received bonuses paid out by Merrill Lynch on the eve of the financially strained brokerage house's merger with the bank. Cuomo called the decision a "victory for taxpayers" that would "lift the shroud of secrecy surrounding the $3.6 billion in premature bonuses Merrill Lynch rushed out in early December." The bank had claimed the bonus information amounted to a trade secret.

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