Law.com - Did Bank of America Mess Up Its Privilege Waiver?

October 20, 2009 Did Bank of America and its lawyers at Cleary Gottlieb Steen & Hamilton make a mistake in the order waiving attorney-client privilege in the bank's case against the Securities and Exchange Commission?

One expert thinks so.

Gregory Joseph, a lawyer who studies evidence and attorney-client privilege, thinks the bank's waiver could result in many more lawyers getting access to privileged documents than the bank intended.

To review: The SEC sued BofA for violating shareholder disclosure requirements during its merger with Merrill Lynch last fall. After an aborted settlement last month, the case has focused increasingly on BofA's lawyers at Wachtell, Lipton, Rosen & Katz, which advised the bank during the merger.

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