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University of Iowa News Release

May 9, 2005

Sale Corporate Governance Article Named 10 Best for Second Year

For the second consecutive year, University of Iowa law professor Hillary Sale has been named the author of one of the year's 10 best articles about corporate and securities law by a poll of corporate and securities law teachers.

The article, "Delaware's Good Faith," was published in the Cornell Law Review in 2004. It follows her article, "Securities Fraud as Corporate Governance: Reflections upon Federalism," that was named one of the best law review articles of 2003. The poll is conducted annually by the journal Corporate Practice Commentator.

UI law Dean Carolyn Jones said Sale's scholarship is especially significant given the importance of corporate securities and governance law in recent years. Most of the corporate scandals gaining headlines, such as Enron or MCI, involve violations of securities and governance laws. In addition, the government responses to those violations, such as the Sarbanes Oxley Act, have led to significant changes in those laws.

"Hillary's work and interpretations of corporate securities law has made her one of the most significant and widely respected scholars in the field," said Jones. "This honor verifies that."

"Delaware's Good Faith" was selected from more than 430 articles considered. In the article, Sale discusses the changing role of the Delaware judiciary as it relates to securities and governance law. Delaware is the headquarters state of thousands of publicly traded American corporations -- including many of the Fortune 500 -- because of the nature of its corporate governance laws. How the state's judiciary interprets the state's laws, then, is of national significance. Sale's article argues that several recent cases decided by the Delaware courts have put forth a set of guiding principles for fiduciary good faith.

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, Suite 371, Iowa City, Iowa 52242-2500.

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