Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Bank of America Turning Over Docs From the Merrill Deal

|Includes: Bank of America Corporation (BAC)

Bank of America's Board of Directors (NYSE:BAC) has decided to waive client-attorney privlieges and turn over papers related to their acquisiton of Merril Lynch back in September 2008.

New York Attorney General Andrew Cuomo's office is seeking to determine whether BofA misled shareholders about $3.6 billion in bonuses paid to Merrill employees and the investment bank's mortgage lending losses, as well as whether BofA failed to tell shareholders that it considered backing out of the deal before it closed on Jan. 1.

More information on this story can be found here.