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University of Iowa News Release

May 13, 2004

Sale Corporate Governance Article Named One of Year's 10 Best

An article co-authored by University of Iowa law professor Hillary Sale has been named one of the 10 best articles about corporate and securities law to be published in 2003 by a poll of corporate and securities law teachers.

The article, "Securities Fraud as Corporate Governance: Reflections upon Federalism," was co-written with Robert B. Thompson, law professor at Vanderbilt University, and published in the April 2003 issue of the Vanderbilt Law Review.

"This is quite an honor for Professor Sale, as her article was selected from more than 450 articles, the most ever published about corporate governance and securities law in one year," said N. William Hines, dean of the UI College of Law. "Such a prodigious amount of writing shows what a significant issue corporate reform has become, giving added weight to such an honor."

In the article, Sale and Thompson show how the federal government has become increasingly involved in corporate governance issues, which had been largely the regulatory domain of the states. One example is the Sarbanes-Oxley Act, passed by Congress in 2002 after a host of corporate governance and securities scandals, although the article points out that the federal intrusion is far broader than that one law. The next question, they write, is how will the federal and state divide their regulatory powers over governance law.

The results of the survey will be published in an upcoming issue of the Corporate Practice Commentator.

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

MEDIA CONTACT: Tom Snee, 319-384-0010,