For What It’s Worth: Valuation in the Courts – Attorney-client privilege not guaranteed

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Abstract: Attorney-client privilege is a cornerstone of our legal system. Yet, in a recent minority shareholder suit for fraud and breach of fiduciary duty, the New York Supreme Court ruled that attorney-client privilege doesn’t generally extend to communications between a valuation expert and attorney. Thus, before sharing information with a financial professional or committing a conversation to writing, business owners and their attorneys need to consider how opposing counsel might use it in the case at hand.