Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Since Deputy Attorney General Paul McNulty revised the Justice Department’s corporate fraud prosecution policies in December, the department has endured criticism from some who’ve argued that the “McNulty memo” accomplished little. Groups such as the National Association of Criminal Defense Attorneys have argued McNulty’s revisions did not go far enough to discourage prosecutors from demanding corporate defendants waive their attorney-client privilege. But on March 29, when the U.S. Attorney’s Office in the Southern District of New York announced a non-prosecution agreement with Jenkens & Gilchrist over illegal tax shelters that the now-defunct firm promoted, prosecutors were careful to note in writing that “J&G is not waiving any attorney-client or work product privilege.” That’s an about-face from how the same U.S. Attorney’s Office handled its tax-shelter investigation of accounting firm KPMG, which was forced to waive attorney-client privilege in 2005; and how the Justice Department handled its probe of plaintiffs firm Milberg Weiss, which was indicted last spring after refusing to waive privilege. Some defense lawyers say the agreement looks like a public relations move. “They’re doing backflips to say they don’t ask for waivers,” says Fried, Frank, Harris, Shriver & Jacobson’s William McGuinness. Adds Aitan Goelman, a former federal prosecutor at Zuckerman Spaeder: “This could be a case where the department wants to point to a case where it can say, �We’ve changed; [the McNulty memo] really does mean something.’ “
Jason McLure can be contacted at [email protected].

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]

Reprints & Licensing
Mentioned in a Law.com story?

License our industry-leading legal content to extend your thought leadership and build your brand.


ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.