A recent decision from the Delaware Supreme Court should trigger warning bells for corporate counsel, according to A.W. Phinney III of Mintz, Levin, Cohn, Ferris, Glovsky and Popeo. He writes that the court upheld a lower court’s order that Wal-Mart Stores Inc. must provide the plaintiff, a shareholder, with documents relating to a company internal investigation, which include those protected by attorney-client privilege.
The Wal-Mart Stores v. Indiana Electrical Workers Pension Trust Fund decision “suggests that counsel conducting internal investigations of allegations of corporate wrongdoing should bear in mind the possibility that someday their privileged communications, which they assume to be confidential, may be subject to review by a shareholder plaintiff’s counsel,” warns Phinney.
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