These summaries were prepared by McGuireWoods LLP lawyer Thomas E. Spahn. They are based on the letter opinions issued by the Virginia State Bar. Any editorial comments reflect Mr. Spahn's current personal views, and not the opinions of the Virginia State Bar, McGuireWoods or its clients. 
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LEO NumTopicsSummary

31-Protecting and Disclosing Confidences and Secrets

57-In-House Lawyers

71-Representing Corporations

An in-house lawyer learns that a corporation has filed a false prospectus. The lawyer did not participate in preparing or disseminating the prospectus, and has now resigned from the in-house position. The lawyer may now reveal the fraudulent activity. The lawyer also has a duty to advise the corporation of the possible consequences of continuing its fraudulent activity, urge the corporation not to issue the prospectus and advise the corporation that the lawyer will reveal its conduct unless the corporation abandons its "criminal intentions." [Rule 1.13 provides guidance for lawyers in this situation.]

Copyright 2000, Thomas E. Spahn