A group of plaintiffs lawyers is testing whether Bank of America's waiver of attorney-client privilege in the Merrill Lynch flap might apply to shareholder suits against BofA related to its merger with Merrill. The bank intended the waiver to apply only to the SEC case and to investigations by New York's attorney general and a congressional committee. But the waiver may not have been crafted correctly, leaving an opening for plaintiffs firms to go after privileged documents in their own cases against BofA.
Testing the Scope of BofA's Privilege Waiver
The American Lawyer
November 6, 2009