Final answer:
The statement is false. Fed, reports, and drafts are protected, but not all information is protected, and disclosure may be required by law.
Step-by-step explanation:
The statement in the question is False. Fed, reports and drafts are protected, as they fall under the category of attorney work product or attorney-client privilege. Compensation and data for assumptions may also be protected if they are related to ongoing legal matters. However, not all information is protected, and there are circumstances where disclosure may be required by law.