Mazur et al v. Refco, Inc. et al, No. 1:2005cv08626 - Document 652 (S.D.N.Y. 2010)

Court Description: OPINION REGARDING "ADVICE OF COUNSEL" DEFENSE AND ATTORNEY-CLIENT PRIVILEGE: Lead Plaintiffs in this Securities Class Action request a ruling regarding documents and testimony that the Underwriter Defendants have withheld from discovery on grounds of attorney client privilege as set forth in this Opinion; The Special Master will work with the parties to review privilege disputes on a case-by-case basis. This may of course include revisiting the "advice of counsel" question at a later date. I suggest that the distinction between "advice of counsel" and "relying on the investigation of counsel" should be adhered to as closely as possible in future discovery proceedings. (Signed by Daniel J. Capra, Special Master on 1/4/10) (ae)