Garner v. Wolfinbarger

*501OPINION AND ORDER OVERRULING DEFENDANT FIRST AMERICAN LIFE INSURANCE COMPANY’S CLAIM OF THE ATTORNEY-CLIENT PRIVILEGE

PITTMAN, Chief Judge.

This matter is now before the Court on an important and interesting question: under what circumstances may a corporation assert the attorney-client privilege against its own stockholders?

That question arises on motion of plaintiff shareholders in a class and derivative action filed by stockholders of First American Life Insurance Company (herein “FAL”). The complaint, as amended, alleges violations of SEC Rule 10b-5, the Securities Exchange Act of 1934, the…