Nixon Peabody LLP Partner Richard F. Langan Speaks on Sarbanes-Oxley Internal Control Reviews

Business Wire, May 3, 2005

NEW YORK -- Nixon Peabody LLP partner Richard F. Langan, Jr., chair of the firm's Business and Finance Department, delivered a presentation on challenges to the attorney-client privilege resulting from internal control reviews under Section 404 of the Sarbanes-Oxley Act of 2002 at the Edison Electric Institute's Spring 2005 Legal Conference in Colorado Springs, Colo.

In a case of competing public interests, the attorney-client privilege and the attorney work product doctrine are threatened by requests by auditors to internal and outside counsel for information required in connection with their audits of public company financial statements and internal control reviews under Section 404. Mr. Langan discussed practical considerations that public companies can take to reduce the likelihood that the attorney-client privilege or work product doctrine will be compromised in connection with the audits and Sarbanes-Oxley attestation reviews.

Mr. Langan handles public and private equity and debt financings in the domestic and international securities markets, including public offerings and private distributions of equity and debt securities, Rule 144A and Regulation S distributions, exchange offers, consent solicitations, and financial restructurings. He also represents corporate clients in domestic and international public and privately negotiated acquisitions, divestitures, strategic alliances and joint ventures, and private equity transactions. Additionally, Mr. Langan represents financial institutions and corporate borrowers in secured and unsecured corporate finance transactions, with particular emphasis on the financing of corporate acquisitions, including leveraged buyouts.

Edison Electric Institute (EEI) is the premier trade association for U.S. shareholder-owned electric companies, and serves international affiliates and industry associates worldwide. EEI's U.S. members serve almost 95 percent of the ultimate customers in the shareholder-owned segment of the industry and nearly 70 percent of all electric utility ultimate customers in the nation, and generate over 70 percent of the electricity produced by U.S. electric utilities.

Nixon Peabody LLP is one of the 50 largest law firms in the United States with more than 600 attorneys working in 15 major practice areas. The firm's size, diversity, and advanced technological resources enable it to offer comprehensive legal services to individuals and organizations of all sizes in local, state, national, and international matters.