CHARLOTTE, N.C. (AP) – A New York judge is ordering former Merrill Lynch CEO John Thain to testify about bonuses paid to Merrill employees before the company was sold to Bank of America.
New York’s Attorney General Andrew Cuomo filed a motion in the state’s Supreme Court Monday asking that Thain be compelled to provide details on the bonuses, which he had declined to give during a deposition Thursday.
Thain’s spokesman Jesse Derris said later Monday that the judge granted Cuomo’s motion and that Thain will answer the questions Tuesday.
Thain said Thursday he had been told by Bank of America not to divulge details about them.
Thain was dismissed from the combined company last month after news broke that Merrill paid $3.6 billion in bonuses before it completed its sale.
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