Narrowing PCAOB Privilege

November 17, 2010
New York

On June 29, 2010, a Northern District of Illinois judge narrowly interpreted Sarbanes-Oxley §105(b)(5)(A) (hereinafter Section 105(b)(5)(a)), the congressionally prescribed evidentiary privilege that protects from discovery certain information generated by Public Company Accounting Oversight Board investigations and inspections.

Specifically, the judge found that the privilege covered only documents and information prepared specifically for the PCAOB.

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