Is witness part of your GC job description?
Massachusetts Secretary of State William Galvin has subpoenaed McKinsey GC Jean Molino regarding the firm’s advisory work for Procter & Gamble in its acquisition of Gillette. This action stems from Mr. Galvin’s concerns that P&G underpaid for Gillette.
Press reports indicate that the subpoena ordered McKinsey to produce documents prepared for P&G relating to the merger and to identify who at other advisory firms in the deal were given those documents.
McKinsey has declined comment. No word on whether subpoenas will be directed at merger counsel, Cadwalader for P&G and Davis Polk for Gillette. Client P&G has an interest in McKinsey’s response as well, but it is likely under pressure to keep the merger process moving to obtain required approvals.
If I read his bio correctly, Mr. Galvin stands for re-election next year.