New York partner John Carney was quoted in the April 26, 2010, Corporate Counsel article, "Was Goldman Sachs GC's Talk With Investors a Mistake?," which was also posted on Law.com.
The focus of the article was the recent move by Goldman Sachs & Co. to put its general counsel on a conference call with investors to talk about the Securities and Exchange Commission's fraud suit filed April 15 against the company. Some legal experts believe this to be a risky move by the company.
But Carney, a former assistant U.S. attorney and senior counsel in the SEC's enforcement division, said he didn't feel as wary about advising a corporation to let its general counsel speak out. He said a company should first consider the general counsel's experience, knowledge, and ability to deal with the media. "If it's the right person, with the right knowledge, then I see no problem," Carney said. He also saw little risk of waiving attorney-client privilege. "Merely discussing the company's defense in public is not waiving privilege," Carney explained.