Pryor Cashman Partner David Rose, a member of the firm's Executive Committee, a member of the Litigation, Media + Entertainment, and Sports Groups, and co-chair of the Alternative Dispute Resolution Practice, wrote an article for Hedge Fund Law Report examining an important and often neglected exception to attorney-client privilege.
In "Understanding the Fiduciary Exception to Attorney-Client Privilege," David notes, "Fund principals may feel confident that communications with their attorneys are protected by the well-known attorney-client privilege, but that may not always be the case."
He outlines the importance of appreciating the significance of this exception: "Better understanding the so-called fiduciary exception to attorney-client privilege can help investment management professionals identify ways to minimize the possibility and likelihood that communications with counsel will be disclosed to an adverse party and mitigate the impact of those communications in contested proceedings and relationships with partners."
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