Delaware Business Litigation Report

Court Of Chancery Holds Privilege Passes With Merger

Great Hill Equity Partners IV, L.P. v. SIG Growth Equity Fund I, LLP,  C.A. 7906-CS (November 15, 2013)

In what seems to have created a real stir, the Court of Chancery held that control over the assertion of the attorney-client privilege passed to the acquiring corporation in a merger.  Hence, that entity could waive that privilege and obtain the legal advice the company received before the merger about certain aspects of its operations that the buyer now is arguing over.  Frankly, there is a lot of authority supporting this result and it should not have come as a surprise.

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