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Bank of America has retained Paul, Weiss, Rifkind, Wharton & Garrison to assist the troubled bank in civil and regulatory litigation related to its merger with Merrill Lynch. And the firm apparently got right down to work: On Monday, according to The New York Times, Paul Weiss lawyers, along with counterparts from Cleary, Gottlieb, Steen & Hamilton, advised the bank’s board to make a shocking change in strategy and vote to waive privilege in the Securities and Exchange Commission’s much-publicized disclosure case against Bank of America, which is now headed for a trial next year, after Manhattan federal district court Judge Jed Rakoff rejected a $33 million settlement between BofA and the government. (Here’s The Am Law Daily’s account of the stunning BofA board vote, and here’s The Wall Street Journal‘s story.)

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