Éric Larchevêque, a Ledger co-founder, posted in two subs (including here) trying to do damage control around the Ledger fiasco. In his post he said that he no longer works at Ledger, but in his Linkedin, he lists that he is a board member of Ledger. Apparently, he forgot to disclose that or update his Linkedin.
It is important to note that there are two motives that are easy to see behind this. He was a co-founder and no one wants to see their product suffer. He also is a stockholder, and Ledger in March just completed more Series C fundraising at a $1.41 billion valuation. Even though he does not work at Ledger, he has a financial interest in the company and this scandal hurts his pocketbook.
I am going to skip over the entire conversation about Ledger not being trustless and your funds being safe if you trust Ledger to the section where he honestly answered questions about government access to your fund.
If Ledger or 2/3 of the companies that handle the data receive a government subpoena, could they get access to your funds?
Even if you trust Ledger not to change the firmware or add any backdoors to gain access to your private keys, if you are a Ledger Recover Service user, then your private keys/funds would be accessible by a subpoena. In the current firmware state, if you are not a Ledger Recover Service user then your private keys would not be accessible with a subpoena.
An update that allows governments to subpoena your private keys and gain access to your crypto is a big deal and likely Ledger is no longer valued at $1.41 billion after this update.