Dive Summary:
- Massachusetts Attorney General Martha Coakley formally requested that Northeast Utilities release information regarding its executives' pay over the last two years.
- The information is being requested as part of the investigation into the utility's merger with NStar; chief executive Thomas J. May is the main target of the probe.
- A spokesman for Northeast Utilities said that the company will review Coakley's request, but is citing a technicality that could get them out of the trouble caused by misreported financial earnings.
From the article:
May headed NStar until the $17.5 billion merger closed in April, then became chief executive of Northeast Utilities, now the 15th-largest utility in the nation. When the combined company filed its annual financial report with the Securities and Exchange Commission late last month, it disclosed May’s pay for only the nine months following the merger. ...