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Merrill CEO to testify on bonuses

February 24, 2009|Times Wire Reports

A New York judge ordered former Merrill Lynch & Co. Chief Executive John Thain to testify about bonuses paid to Merrill employees before the company was sold to Bank of America Corp.

New York Atty. Gen. Andrew Cuomo filed a motion in the state's Supreme Court asking that Thain be compelled to provide details on the bonuses, which he had declined to give during a deposition Thursday. Thain's attorney, Andrew Levander, later said that the motion was granted and Thain would answer the questions today.

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