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The author is a partner with Jenner & Block LLP, Chicago.
To: Stephen Armstrong, Personal Counsel for Hank Kauffman
From: Ron Marmer
Re: Kauffman Personal Defense
Hank will need to make some preliminary assessments about who his natural allies are, where he will have to go it alone, and where he faces the most risk.
Two items are always on my list of early topics to cover, and we should raise them with Hank right away. The first is the duty to preserve documents, both paper and electronic. We should explain that electronic documents include information on home computers, BlackBerrys, and iPhones. Here, there is a specific statutory obligation under the Securities Litigation Reform Act to preserve documents. Even without that, it always makes sense to do so.