Mark E. Felger, left, and Kaan Ekiner, right, of Cozen O'Connor. Courtesy photos Court of Chancery Address Scope of Privilege Concerning Third-Parties
In this stockholder derivative action, the plaintiff claimed that the defendants—members of Tesla's board of directors—breached their fiduciary duties by awarding themselves excessive and unfair compensation between 2017 and 2020.
July 05, 2023 at 09:00 AM
8 minute read
Contributors
In The Police and Fire Retirement System of the City of Detroit v. Elon Musk, C.A. No. 2020-0477-KSJM, 2023 WL 1525022 (Del. Ch. Jan. 31, 2023), Chancellor Kathleen St. Jude McCormick addressed the scope of the attorney-client privilege in the context of communications between corporate directors and third-party advisers. The chancellor's letter decision also addressed whether perceived adversity voided the privilege in an exchange between a director and in-house counsel concerning the director's compensation and provided the litigants with practical suggestions to consider in resolving outstanding privilege disputes.
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