Thursday, March 12, 2009

Confidentiality vs public disclosure? That is the question.


Last week, Bank of America:

"Threatening to sue" a former employee who was willing to unconditionally tell the state's attorney general which Merrill high-fliers received the thickest slices of a $3.6 billion bonus pie that was dished out on the eve of the January merger, state officials said Friday.

This latest public chapter came as New York Attorney General Andrew Cuomo's office replied to court documents filed Thursday by Bank of America that urged that the information remain confidential and that the confidentiality extend beyond former Merrill CEO
John Thain's testimony to include statements from other executives, at least four of whom have already testified.

Fresh testimony given Thursday by former Merrill executive Gregory Fleming prompted the alleged threat to sue, Cuomo's office said.

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