Vinita Davey

This article was originally published by Bloomberg Law on May 30, 2024. Copyright 2024 Bloomberg Industry Group, Inc. (800-372-1033) www.bloombergindustry.com. Reproduced with permission. For any company, the ability to have open discussions with legal counsel is key to managing litigation risk. Thus, the attorney-client privilege protects communications between the company's agents and its counsel when seeking or providing legal advice, preventing such communications from being discoverable.

Among the many revelations that emerged from the FTX collapse was the hoard of Signal and text messages that Sam Bankman-Fried and his colleagues used to conduct their business (and fraud). These messages, often sent through personal devices, were key evidence in the U.S. Attorney for the Southern District of New York's successful criminal prosecution of Bankman-Fried.