Investment Adviser Can't Take Back SEC Emails, Judge Says

Law360, New York (October 29, 2012, 3:19 PM EDT) -- Investment adviser firm Dblaine Capital LLC cannot take back attorney emails it accidentally disclosed to the U.S. Securities and Exchange Commission in a fraud investigation, a federal judged ruled Friday, finding that Dblaine's approach to document production was too haphazard.

A company dealing with the SEC needs to have proper controls in place on the documents it discloses if it wants to complain that accidents have breached attorney-client privilege, U.S. Magistrate Judge Steven E. Rau said in a written order.

The SEC claims in a lawsuit...
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