Creditanstalt Investment Bank AG v. Chadbourne & Parke LLP

I respectfully dissent. In this action brought by former clients of the defendant law firm for legal malpractice, plaintiffs allege that defendant negligently provided erroneous advice concerning the legality under Russian law of a particular vehicle for investment in certain Russian securities (the SP Structure), and that plaintiffs relied on that advice and suffered damages as a result of their reliance. As plaintiffs have never disputed, by commencing this action they waived the attorney-client privilege with re*202spect to the SP Structure (Jakobleff v Cerrato, Sweeney & Cohn, 97 AD2d 834,…