New York has decided to out the Merrill Bonus traitors. Release the hounds!
New York Attorney State Supreme Court Justice Bernard Fried in Manhattan today rejected an argument by Charlotte, North Carolina-based Bank of America Corp. that compensation information was a trade secret. He also said employees can have no reasonable expectation of privacy in the information when they are free to share it.
"The Martin Act vests in the Attorney General the discretion to decide whether to keep the information that he gathers in the course of his investigation secret or public," Fried wrote in a 16-page decision, referring to a New York securities law. Bank of America, he said, has no "privacy interest that undermines that statutory discretion."
Judge Says Cuomo May Name Merrill Bonus Recipients [Bloomberg]
Related:Full text of the ruling via WSJ.