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S.D.N.Y. Decision May Have Outsized Implications on DOJ’s “Outsourcing” of Investigations

May 08, 2019
Firm Memoranda
In a significant ruling by a federal judge in Manhattan late last week, the actions of a major law firm conducting an internal investigation on behalf of Deutsche Bank AG ("Deutsche Bank") were deemed "fairly attributable" to the government based on interview requests and direction provided by government actors, including the Commodity Futures Trading Commission ("CFTC"). Although the Court denied the ultimate relief sought by the individual defendant, former Deutsche Bank trader Gavin Black-vacating his conviction on wire fraud and conspiracy charges on the grounds that his Fifth Amendment rights against self-incrimination had been violated during this internal investigation and his subsequent prosecution-the ruling nonetheless has serious consequences for the way companies and counsel interact with government agencies during the course of conducting internal investigations and beyond.

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If you have any questions about the issues addressed in this memorandum, or if you would like a copy of any of the materials mentioned in it, please do not hesitate to reach out to:

Sandra Moser
Co-Chair, Investigations, Government Enforcement and White Collar Criminal Defense Practice and Crisis Law & Strategy Practice
Phone: +1 202-538-8333

Marc Hedrich
Phone: +1 202-538-8121