In Hyde Park Undertaking Partners Fund III, L.P. v. FairXchange, LLC,[1] the Delaware Courtroom of Chancery presented a precious reminder to corporations and their directors and officers that a company simply cannot assert a privilege, this sort of as the legal professional-shopper privilege, versus its directors or the investors that appointed people directors in litigation unless 1 of three exceptions are achieved: (1) the parties agree by way of deal, this sort of as a confidentiality arrangement, that the corporation may perhaps assert privilege towards particular administrators and the traders that appointed that director (2) the board of directors varieties a special committee that excludes the director soon after which…