Delaware Supreme Court Adopts Fiduciary Exception to Attorney-Client Privilege

The Delaware Supreme Court recently issued a decision that has the potential to affect how corporations across the United States conduct investigations and communicate with their attorneys. The decision, Wal-Mart Stores, Inc v Indiana Electrical Workers Pension Trust Fund IBEW, adopted the fiduciary exception to attorney-client privilege, which allows shareholders access to a company's privileged communications when there is "good cause" to believe that management may have breached a fiduciary duty to the shareholders.

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