21 February 2007 - In the wake of the scandals of the last few years that engulfed corporate America, and the ongoing ubiquitous stock options investigations facing hundreds of American corporations, prosecutors and regulators from the Department of Justice ("DOJ"), the Securities and Exchange Commission (the "Commission" or the "SEC"), the Commodity Futures Trading Commission, the National Association of Securities Dealers, and the New York Stock Exchange now routinely demand that corporations, as part of their efforts to cooperate fully with government investigations, waive attorneyclient privilege and work product protection by, among other things, producing privileged documents, notes of employee interviews conducted by lawyers, and, where available, reports of internal investigations.

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