Current Issues in D&O and E&O Coverage Investigations: S.D.N.Y. Holds that Credit Suisse Waived Work Product Privilege by Disclosing Internal Investigation Memoranda to the Government

If outside counsel for a company drafts factual memoranda concerning an internal investigation conducted in response to alleged wrongdoing, and then voluntarily shares the memoranda at the company’s direction with government investigators, has the company waived the work product privilege?  According to a recent decision from a federal district court in New York, the answer is yes.  See In re Initial Public Offering Securities Litigation, 2008 WL 400933 (S.D.N.Y. Feb. 14, 2008).

For a full Client Advisory on this issue by Scott H. Casher of Edwards Angell Palmer & Dodge’s Insurance and Reinsurance Department, please click here.