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University of Iowa News Release

Sept. 2, 2005

UI Law Symposium to Examine Future of Corporate Management Laws

Corporate governance issues have been subject to a massive public examination in the past four years, as scandals at companies like Enron, WorldCom, Qwest and many other companies have exposed faults in the way some American corporations are managed. A symposium Sept. 9-10 at the University of Iowa College of Law will bring some of the top corporate law experts in the country to consider how companies should be managed in the future.

"This conference will provide a broad-ranging debate on where corporate law should be headed and how it should get there," said Hillary Sale, a UI law professor and coordinator of the symposium. "Our goal is to urge people to update their thinking on what the roles of the various corporate actors should be, what directions they should take, and how corporate law thinking and theory can and should change."

The symposium will be Sept. 9-10 at the Iowa law school. Among the topics to be discussed are: what should be the fiduciary duties of corporate officers and directors? What should be the allocation of responsibilities and fiduciary duties between shareholders and management? And what is the relationship of securities and litigation with corporate governance?

The line-up of corporate law experts includes most of the top scholars in the field, many of whom frequently appear in media as analysts or before governmental bodies delivering testimony. Among those expected to participate are Randy Holland and Jack Jacobs, justices of the Delaware Supreme Court; Bill Allen, formerly of the Delaware Chancery Court, now a professor of law at New York University; Margaret Blair, Vanderbilt University; Lucian Bebchuk, Harvard University; Lisa Fairfax, University of Maryland; Jill Fisch, Fordham University; Henry Hansmann, Yale University; Mike Klausner, Stanford University; Don Langevoort, Georgetown University; Frank Partnoy, University of San Diego; Bob Thompson, Vanderbilt University; Ronald Gilson, Stanford University; Renier Kraakman, Harvard University.

The symposium will take the form of an analysis of the book "Corporate Law" on the 20th anniversary of its publication in 1986. The book, written by former Harvard law dean Robert Clark, is one of the most important writings on the topic.

"Robert Clark's book has long been one of the most popular treatises on corporate law," Sale said. "But in the twenty years since it was written, corporate law and theory have grown in several directions."

Clark is also expected to appear at the conference.

The symposium will be sponsored by the Journal of Corporation Law, a journal  published by the UI College of Law that will also publish the papers presented in its 2006 issue.

Funding for the symposium is provided in part by a grant from the Alfred P. Sloan Foundation. Founded in 1934 by Alfred P. Sloan, a former chairman and CEO of General Motors Corp, the Sloan Foundation provides funding for programs relating to science and technology, standard of living and economic performance, education and careers in science and technology and other national issues.

STORY SOURCE: University of Iowa News Service, 300 Plaza Centre One, Suite 371, Iowa City, Iowa 52242-2500.

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