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University of Iowa News Release

Feb. 27, 2004

Delaware Supreme Court Justice Visits UI College Of Law

Myron Steele, an associate justice on the Delaware Supreme Court, visited the University of Iowa College of Law Thursday to discuss corporate governance legal issues with faculty and students and to give the keynote speech at the Journal of Corporation Law's annual banquet.

Steele's visit is part of an informal arrangement between the UI law school and the Delaware Supreme Court in which a court justice visits campus every spring. Hillary Sale, a professor of law, said the Delaware Supreme Court is perhaps the most important legal institution in determining how American corporations are led and governed.

"Delaware has the most highly developed system of governance law, and its law governs more Fortune 500 companies than any other state's law," said Sale. "As a result, the Delaware Supreme Court's decisions have an effect well beyond Delaware."

Steele said one of the results of the corporate scandals has been Congress' increased willingness to give more authority to the Securities and Exchange Commission to regulate corporations. Through various mechanisms, he said this has included regulating corporate governance issues, which has the potential to put it in conflict with state courts and legislatures.

STORY SOURCE: University of Iowa News Service, 300 Plaza Centre One, Iowa City, Iowa 52242-2500.

MEDIA CONTACT: Tom Snee, 319-384-0010, tom-snee@uiowa.edu.