- Unpublished opinion holds that in the case of joint attorney representation of co-venturers, attorney-client privilege may not be raised to prevent disclosure of communications relevant to the common interest of former joint clients in subsequent litigation.
- Case suggests that hedge funds entering into joint venture arrangements should consider retaining separate counsel or carefully define the scope of the representation in the engagement letter.
- Privilege takes effect only after the co-venturers’ interests clearly diverge.
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