02/05/2008
Delaware Court Holds That Disclosure of Results of Internal Investigation to Board of Directors Waives Attorney-Client Privilege When Some Directors or the Board Have Adverse Interests
Ryan v. Gifford, 2007 WL 4259557 (Del.Ch. 2007) (not reported)
Brief Summary
When a special committee formed to investigate backdated stock options at Maxim Integrated Products Inc. shared its counsel’s report with Maxim’s full board of directors—including directors individually subject to backdating claims — the attorney-client privilege was waived.
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