Firstcoast411 Search
Sponsored by:
ABC Video Player - Watch ABC Shows Online ABC News Video Player WJXX ABC 25 Programming Schedule Watch NBC Shows Online WTLV NBC 12 Programming Schedule

Bank of America to Give Up Merrill Deal Documents

 Phil Amato     Created: 10/13/2009 6:41:24 AM    Updated: 10/13/2009 6:42:26 AM
Advertisement

SAN FRANCISCO (AP) -- After months of resistance, Bank of America Corp. is handing over documents related to its purchase of Merrill Lynch & Co. to the office of New York Attorney General Andrew Cuomo.

A person familiar with the investigation, who requested anonymity because the investigation is ongoing, says BofA's board decided on Friday that it would waive its attorney-client privilege and hand over the papers.

The documents detail the legal advice the Charlotte, N.C.-based bank received on the deal.

Cuomo's office seeks to determine whether BofA misled shareholders about bonuses paid to Merrill employees and the investment bank's losses, as well as whether BofA wavered in its commitment to the deal before it closed on Jan. 1.

©2009 Associated Press. All rights reserved. This material may not be published, rewritten, or redistributed.



In your voice

Read reactions to this story