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CEO not entitled to privileged communications

Says they’re necessary for defense in SEC suit

The co-founder of an investment management company, who is the subject of a Securities and Exchange Commission lawsuit, is not entitled to the corporation’s attorney-client communica­tions even though he claims they are necessary for his ad­vice-of-counsel defense, a U.S. District Court judge has found. The SEC sued the defendant, Howard B. Present, for various violations of ...

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