Financial Times FT.com

Merrill ‘misled’ Congress on bonuses, says Cuomo

By Greg Farrell in New York

Published: March 11 2009 21:17 | Last updated: March 11 2009 23:45

Merrill Lynch misled a congressional committee about the timing of its decision to move up the payment of 2008 bonuses to December, just days before the company was acquired by Bank of America, the New York attorney-general claimed on Wednesday.

In a court filing, Andrew Cuomo, the attorney-general, asked a state judge to force BofA to disclose the amount of bonuses paid to individual Merrill employees last December. So far, BofA has refused to supply that information, saying it wants to preserve the confidentiality of employees.

You have viewed your allowance of free articles. If you wish to view more, click the button below.

Read this