In a decision issued earlier this year in the Qwest securities litigation, the U.S. Court of Appeals for the Tenth Circuit declined to adopt the selective waiver doctrine. Specifically, the court found that Qwest could not withhold documents from the plaintiffs on the grounds of attorney-client privilege or the work-product doctrine if those documents were previously produced to the SEC. On Monday, the U.S. Supreme Court denied cert in the case.
The Denver Business Journal has an article on the decision. Most of the defendants have settled (including Qwest), but the case is continuing against two former officers. The 10b-5 Daily has posted frequently about the settlement.