Court of Chancery Requires Disclosure By Special Committee
Ryan v. Gifford, C.A. No. 2213-CC (January 2, 2008).
This is an interesting decision because it points out how to do almost everything wrong in using a special committee to investigate accusations of misconduct. The result is that any privilege from disclosure that the work of the special committee may have enjoyed was completely lost and all of its extensive efforts were ordered to be turned over to the plaintiffs in the underlying litigation.
The decision also points out the limits on what its holding may have been in other contexts where the special committee's work was properly used and its privileges maintained.Share