Did John Thain ram deal through NYSE board?
It's fair to say the trial's course played a role in the NYSE's decision to settle. The dissidents painted a picture of John Thain ramming the deal through the board with little debate. They wanted the judge to see Thain, a former COO at Goldman Sachs, as seeking to enrich himself and his former employer via the controversial deal. The NYSE may have felt the proceedings weren't going too well. One witness was Herbert Allison, Jr., former president of Merrill Lynch. He apparently had some reservations about the deal.
> Here's an Associated Press article.
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