Bank of America uncloses its legal advice on Merrill purchase

 On Monday Bank of America Corporation agreed to provide investigators with the documents that contain the legal advice the company received when purchasing Merrill Lynch, according to the sources cited by the Wall Street Journal.

The bank wants to relieve the pressure put upon it by the authorities and settle a number of investigations into its Merrill purchase. The company’s board voted to wave attorney-client privilege that it previously used to keep the legal advice it received undisclosed. Bank of America notified New York Attorney General Andrew Cuomo's office that it would be handing over the documents on Monday.

The company plans to hand over documents to federal, state and Congressional officials investigating Bank of America. The documents should include emails and memos between Bank of America and its outside law firm Wachtell, Lipton Rosen & Katz, as well as communication between Merrill and its counsel, Shearman & Sterling.