Did BofA Err by Relying on Wachtell for Defense in Shareholder Suit?

, The American Lawyer


Was it wise for Bank of America to choose Wachtell to lead its defense when the firm advised the company on the underlying disclosure issues behind Friday's $2.43 billion settlement? "I have the highest respect for Wachtell," said Columbia Law School professor John Coffee Jr. "But you have problems when you're defending advice you gave the client."

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