Companies suspected of financial mischief may find themselves caught between accepting federal promises of leniency in exchange for a peek at internal corporate investigations and airing corporate dirty linen to the world.
Corporations have tried to limit disclosure of internal reports by negotiating partial waiver of attorney-client privilege to share with government eyes only. The practice began after former U.S. Deputy Attorney General Larry Thompson indicated in his 2003 memorandum that one measure of a corporation’s cooperation in criminal investigations would be its willingness to share the results of internal investigations. Last year, the department said it would limit its request for waivers to the most serious cases.
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