Institute for Law and Economics

Penn Law

Distinguished Jurist Lectures

Tuesday, November 19, 2013

DISTINGUISHED JURIST LECTURE

Hon. Jed S. Rakoff
United States District Judge
Southern District of New York

The Paucity of Criminal Prosecutions Arising from the Financial Crisis: Unaccountable?

Lecture:  4:30 to 5:30 PM
Reception:  5:30 to 6:30 PM

Open to the Public

image

Jed Saul Rakoff is a federal judge for the United States District Court for the Southern District of New York. He joined the court in 1996 after being nominated by President Bill Clinton and assumed senior status on December 31, 2010. Prior to his appointment, Judge Rakoff was Chief Prosecutor of the Business and Securities Fraud Prosecutions Unit. Before serving as Chief Prosecutor, he was the Assistant U.S. Attorney for the U.S. Attorney’s Office in the Southern District of New York. He received his B.A. from Swarthmore, his M.A. in Philosophy from Oxford-England, and his J.D. from Harvard Law School.

Many people believe the financial crisis from which we are still suffering was the product, not just of mistakes and wrong guesses, but fraudulent practices and misrepresentations. Yet few if any high-level executives associated with these alleged misdeeds have been criminally prosecuted.  Bringing to bear his combined experience as a former federal prosecutor, former white collar criminal defense lawyer, and (for the past 18 years) experienced federal jurist, Judge Rakoff suggests that the paucity of such prosecutions may be tied, not just to the facts of any given case, but to disturbing trends in federal regulatory and prosecution policies over the past decade and more.

This program has been approved for 1.0 substantive law credit hours for Pennsylvania lawyers.  CLE credit may be available in other jurisdictions as well. Attendees seeking CLE credit should bring separate payment of $25.00 cash, or check made payable to “The Trustees of the University of Pennsylvania”.

Wednesday, October 10, 2012

DISTINGUISHED JURIST LECTURE

Daniel K. Tarullo
Governor, Board of Governors of the Federal Reserve System

Financial Stability Regulation

Lecture:     4:30 to 5:30 PM
Reception: 5:30 to 6:30 PM

Open to the Public

Daniel K. TarulloDaniel K. Tarullo took office on January 28, 2009, to fill an unexpired term ending January 31, 2022.

Prior to his appointment to the Board, Mr. Tarullo was Professor of Law at Georgetown University Law Center, where he taught courses in international financial regulation, international law, and banking law. Prior to joining the Georgetown Law faculty, Mr. Tarullo held several senior positions in the Clinton administration.

From 1993 to 1998, Mr. Tarullo served, successively, as Assistant Secretary of State for Economic and Business Affairs, Deputy Assistant to the President for Economic Policy, and Assistant to the President for International Economic Policy. He also served as a principal on both the National Economic Council and the National Security Council. From 1995 to 1998, Mr. Tarullo also served as President Clinton’s personal representative to the G7/G8 group of industrialized nations.

Before joining the Clinton administration, he served as Chief Counsel for Employment Policy on the staff of Senator Edward M. Kennedy, and practiced law in Washington, D.C. He also worked in the Antitrust Division of the Department of Justice and as Special Assistant to the Undersecretary of Commerce. From 1981 to 1987, Mr. Tarullo taught at Harvard Law School. Mr. Tarullo has also served as a senior fellow at the Council on Foreign Relations and as a non-resident senior fellow at the Center for American Progress. Mr. Tarullo has also held a visiting professorship at Princeton University.

Mr. Tarullo was born in November 1952 in Boston, Massachusetts. He received his A.B. from Georgetown University in 1973 and his M.A. from Duke University in 1974. In 1977, Mr. Tarullo received his J.D. (summa cum laude) from the University of Michigan Law School, where he served as Article and Book Review Editor of the Michigan Law Review.

Mr. Tarullo is married and has two children.

 

Wednesday, February 15, 2012

DISTINGUISHED JURIST LECTURE

Hon. Leo E. Strine, Jr.
Chancellor, Delaware Court of Chancery

Regular Order as Equity

Lecture:     4:30 to 5:30 PM
Reception: 5:30 to 6:30 PM

Open to the Public

Hon. Leo E. Strine, Jr.

Chancellor Leo E. Strine, Jr. became Chancellor of the Delaware Court of Chancery in 2011 after serving as a Vice Chancellor since 1998. Since he joined the Court, Chancellor Strine has written numerous influential and provocative opinions.

Immediately before becoming a member of the Court of Chancery, Chancellor Strine was Counsel to Governor Thomas R. Carper of the State of Delaware. Before becoming Counsel to Governor Carper in January 1993, Chancellor Strine was a corporate litigator at the firm of Skadden, Arps, Slate, Meagher & Flom. Prior to that, Chancellor Strine was law clerk to Judge Walter K. Stapleton of the U.S. Court of Appeals for the Third Circuit and Chief Judge John F. Gerry of the U.S. District Court for the District of New Jersey. Chancellor Strine graduated magna cum laude from the University of Pennsylvania Law School in 1988, and was selected as a member of the Order of the Coif. In 1985, he received his Bachelor’s Degree summa cum laude from the University of Delaware and was selected as a member of Phi Beta Kappa.

 

Tuesday, October 25, 2011

DISTINGUISHED JURIST LECTURE

Hon. William B. Chandler III
Former Chancellor, Delaware Court of Chancery

Lecture:     5:00 to 6:00 PM
Reception: 6:00 to 6:30 PM

Open to the Public

Hon. William B. Chandler III

Chancellor William B. Chandler III is a partner at Wilson Sonsini Goodrich & Rosati, where he advises both public and private clients in connection with corporate governance matters, special committee assignments, internal investigations, and merger and acquisition transactions. He currently serves on the firm’s Policy Committee.

Chancellor Chandler joined the firm from the Delaware Court of Chancery, the nation’s leading court for corporate law cases, particularly those relating to change of control and other corporate law issues. He was appointed Chancellor in 1997, after serving as Vice Chancellor since 1989. Widely regarded as one of the country’s most influential judges on issues of corporate law and governance, he issued more than a thousand opinions and presided over some of the most contentious and high-profile corporate law disputes in the country, including those involving The Walt Disney Company, Yahoo, Microsoft, Hewlett-Packard, eBay, Citigroup, Dow Chemical, and, most recently, the Air Products/Airgas dispute. Many of his rulings have become required reading for M&A and business law practitioners, and he has written and lectured widely on numerous critical corporate law issues.

Prior to his appointment to the Court of Chancery, Chancellor Chandler served as resident judge of the Delaware Superior Court from 1985 to 1989. He previously was an associate with Morris, Nichols, Arsht & Tunnell and served as legal counsel to Pete duPont, the former governor of Delaware.

Earlier in his career, Chancellor Chandler taught commercial law, legislative process, and remedies at the University of Alabama School of Law. He also has taught law courses at the Delaware Law School of Widener University, Washington University School of Law, Seattle University School of Law, Ohio State University, University of Georgia, Vanderbilt University, and the University of Nevada, Las Vegas.

Chancellor Chandler is a member of the American Law Institute and a trustee of the Yale Center for Corporate Governance, the University of Delaware, and the Weinberg Center for Corporate Governance.

 

Wednesday, March 23, 2011

DISTINGUISHED JURIST LECTURE

Kenneth R. Feinberg
Feinberg Rozen, LLP

Treasury’s Performance as Pay Tsar: Precedent or Aberration?

Lecture:     5:00 to 6:00 PM
Reception: 6:00 to 6:30 PM

Open to the Public

Kenneth Feinberg

Kenneth R. Feinberg was appointed by the Secretary of the Treasury in 2009 to serve as the Special Master for TARP Executive Compensation. In this capacity, he was responsible for determining annual compensation packages for senior corporate officials at companies that received the most taxpayer financial assistance. Most recently, he was designated by the Obama Administration and British Petroleum (BP) to serve as Administrator of the Gulf Coast Claims Facility in 2010.

He has been key to resolving many of our nation’s most challenging and widely known disputes. He is best known for serving as the Special Master of the Federal September 11th Victim Compensation Fund of 2001, in which he reached out to all who qualified to file a claim, evaluated applications, determined appropriate compensation, and disseminated awards. Mr. Feinberg shared his extraordinary experience in his book What Is Life Worth?, published in 2005 by Public Affairs Press. Just a few years later, Mr. Feinberg became Fund Administrator for the Hokie Spirit Memorial Fund following the tragic shootings at Virginia Tech. Mr. Feinberg also has served as Special Master in Agent Orange, asbestos personal injury, wrongful death claims, Dalkon shield, and DES (pregnancy medication) cases.

 

Thursday, October 29, 2009

DISTINGUISHED JURIST LECTURE

Hon. Lewis A. Kaplan
United States District Judge
Southern District of New York

Private Securities Litigation - Time for a Fresh Start?

Lecture: 4:30 to 5:30 PM
Reception: 5:30 to 6:30 PM

Open to the Public

Hon. Lewis Kaplan

Judge Kaplan was appointed United States District Judge for the Southern District of New York on August 9, 1994 and entered on duty August 22, 1994. He received his A.B. with high honors in political science from the University of Rochester in 1966 and his J.D. cum laude from Harvard Law School in 1969. He then served as law clerk to Honorable Edward M. McEntee of the United States Court of Appeals for the First Circuit.

Judge Kaplan joined the New York law firm of Paul, Weiss, Rifkind, Wharton & Garrison in 1970 and was a partner in the firm from 1977 until joining the bench. Since his appointment to the bench, Judge Kaplan has handled a number of well known cases. He now is presiding over the first criminal prosecution in a federal district court of a Guantanamo detainee. He tried what the government called the largest criminal tax case in U.S. history, the prosecution of many former members of the accounting firm, KPMG, and others, for conspiracy to defraud the United States and for tax evasion. He was responsible for the civil antitrust price-fixing cases brought against Sotheby’s Holdings, Inc. and Christie’s and the companion criminal antitrust case against Sotheby’s. He is presiding over multidistrict litigations relating to the failed Italian company, Parmalat, and to Lehman Brothers Holdings. He has been the trial judge in such intellectual property cases as Universal City Studios, Inc. v. Reimerdes, in which held that dissemination of a computer program that decrypts copyrighted motion pictures stored on DVDs violated the Digital Millenium Copyright Act, and Larson v. Thomson, which dealt with a claim of joint copyright ownership in the show Rent by a dramaturg who worked on the script. Other noteworthy decisions include his 1998 ruling enjoining the City of New York from interfering with the so-called Million Youth March in Harlem on the ground that the regulations relied upon by the City in banning the march violated the First Amendment as well as a 1997 decision upholding the Welfare Reform Act of 1996 against constitutional challenge.

In 2009, Judge Kaplan received the Federal Bar Council’s Learned Hand Medal for excellence in federal jurisprudence and the Judicial Recognition Award of the National Association of Criminal Defense Lawyers. The New York State Bar Association Section on Commercial and Federal Litigation in 2007 awarded him its Stanley H. Fuld Award for “outstanding contributions to commercial law and litigation.”

Judge Kaplan is a Judicial Fellow of the American College of Trial Lawyers, judicial liaison to the Council of the ABA Section of Antitrust Law, and a member of the American Law Institute. He is chair of the Technology Committee of the United States District Court for the Southern District of New York, was a member of the Committee on Automation and Technology of the Judicial Conference of the United States from 1997 through 2003, and has served as a director and member of the executive committee of the Federal Judges’ Association.

 

Tuesday, November 11, 2008

DISTINGUISHED JURIST LECTURE

Hon. Randy J. Holland
Justice
Supreme Court of Delaware

Delaware Directors’ Fiduciary Duties: The Focus on Loyalty

Lecture:     4:30 to 5:30 PM
Reception: 5:30 to 6:30 PM

Open to the Public

Hon. Randy Holland

The Honorable Randy J. Holland presently serves on the Delaware Supreme Court. He is the youngest person to serve on the Delaware Supreme Court, having been recommended to the Governor by a bipartisan merit selection committee. Prior to his appointment and confirmation in 1986, Justice Holland was in private practice as a partner at Morris, Nichols, Arsht & Tunnell. In January 1999, he was reappointed and confirmed unanimously for a second twelve-year term.

Justice Holland graduated from Swarthmore College. He also graduated from the University of Pennsylvania Law School, cum laude, where he received an award for legal ethics. Justice Holland received a Master of Laws in the Judicial Process from the University of Virginia Law School.

Justice Holland is the past national President of the American Inns of Court Foundation. He chaired the national Advisory Committee to the American Judicature Society’s Center for Judicial Ethics. He also chaired the American Bar Association National Joint Committee on Lawyer Regulation. Justice Holland is a member of the American Law Institute. He is an adjunct professor at several law schools. Justice Holland has received numerous awards, including the 1992 Judge of the Year Award from the National Child Support Enforcement Association, the 2002 Alumni Award of Merit from the University of Pennsylvania School of Law, the 2003 American Judicature Society’s Herbert Harley Award and the 2007 AIC Christensen Award. In 2004, he was elected to be an Honorary Master of the Bench by Lincoln’s Inn in London. Chief Justices Rehnquist and Roberts appointed Justice Holland as the State Judge Member of the Federal Judicial Conference Advisory Committee on Appellate Rules.

Justice Holland has published several books: Middle Temple Lawyers and the American Revolution, co-author (Thomson-West 2007); The Delaware Constitution: A Reference Guide (Greenwood Press 2002); Delaware Supreme Court: Golden Anniversary (2001), co-editor; and The Delaware Constitution of 1897 - The First One Hundred Years, co-editor. He has also published several law review articles, primarily dealing with judicial ethics and legal history. Justice Holland is co-editor of a law school casebook: Appellate Practice and Procedure (West 2005).

 

Wednesday, October 24, 2007

DISTINGUISHED JURIST LECTURE

Brian Cartwright
General Counsel
Securities and Exchange Commission

The Future of Securities Regulation

Lecture:     4:30 to 5:30 PM
Reception: 5:30 to 6:30 PM

Open to the Public

Brian G. Cartwright

Brian G. Cartwright is the General Counsel of the U.S. Securities and Exchange Commission.

He began his legal career in 1980 after earning a J.D. from Harvard Law School, where he was President of the Harvard Law Review and winner of the Sears Prize. He served as a law clerk to Judge Malcolm R. Wilkey of the U.S. Court of Appeals for the District of Columbia Circuit and to Associate Justice Sandra Day O’Connor of the U.S. Supreme Court.

Mr. Cartwright then joined the law firm of Latham & Watkins in 1982, and became a partner in 1988. Among the management positions he held at Latham & Watkins, Mr. Cartwright served as Global Chair of the firm’s practice representing public companies. While a member of the firm’s Executive Committee, he was one of five partners responsible for the management of the firm as a whole.

Prior to joining the legal profession, Mr. Cartwright was an astrophysicist. Following his graduation from Yale University in 1967, he earned a Ph.D. in physics from the University of Chicago in 1971. From 1973 to 1977, he was a Research Physicist in the Department of Physics and Space and Sciences Laboratory of the University of California, Berkeley. While working as an astrophysicist, Mr. Cartwright published articles in scholarly journals, such as the Astrophysical Journal.

 

Wednesday, October 11, 2006

DISTINGUISHED JURIST LECTURE

Hon. Richard A. Posner
Judge, U.S. Seventh Circuit Court of Appeals
Senior Lecturer, University of Chicago Law School

The Embattled Corporation

Lecture: 4:30 to 5:30 PM
Reception: 5:30 to 6:30 PM

Open to the Public

Hon. Richard A. Posner

Richard A. Posner graduated first in his class from Harvard Law School in 1962, magna cum laude, and was President of the Harvard Law Review. He worked for several years in Washington during the Kennedy and Johnson Administrations, as law clerk to Justice William J. Brennan, Jr., as an assistant to Commissioner Philip Elman of the Federal Trade Commission, as an assistant to the Solicitor General of the United States, Thurgood Marshall, and as general counsel of President Johnson’s Task Force on Communications Policy.

Posner entered law teaching in 1968 at Stanford as an associate professor and became professor of law at the University of Chicago Law School in 1969, where he remained (later as Lee and Brena Freeman Professor of Law) until his appointment to the Seventh Circuit in 1981. During this period Posner wrote a number of books (including Antitrust Law: An Economic Perspective, Economic Analysis of Law—now in its sixth edition—and The Economics of Justice) and many articles (a number of these in collaboration with the economist William Landes), mainly exploring the application of economics to a variety of legal subjects, including antitrust, public utility and common carrier regulation, torts, contracts, and procedure. He founded the Journal of Legal Studies, primarily to encourage economic analysis of law, and was a research associate of the National Bureau of Economic Research. He also engaged in private consulting and was from 1977 to 1981 the first president of Lexecon Inc., a firm made up of lawyers and economists that provides economic and legal research and support in antitrust, securities, and other litigation.

Posner became a Judge of the U.S. Court of Appeals for the Seventh Circuit in December 1981 and served as Chief Judge from 1993 to 2000. He has written almost 2200 published judicial opinions. He continues to teach part time at the University of Chicago Law School, where he is Senior Lecturer, and to write academic articles and books. He has written 38 books and more than 300 articles and book reviews. His academic work since his becoming a judge has included studies in the economics of criminal law, labor law, and intellectual property; in jurisprudence, law and literature, and the interpretation of constitutional and statutory texts; and in the economics of sexuality and of old age.

His recent books include Catastrophe: Risk and Response (2004); Preventing Surprise Attacks: Intelligence Reform in the Wake of 9/11 (2005); and Uncertain Shield: The U.S. Intelligence System in the Throes of Reform (2006). His latest books are Not a Suicide Pact: The Constitution in a Time of National Emergency (2006), and The Little Book of Plagiarism and the seventh edition of Economic Analysis of Law, both of which will be published in 2007.

Posner’s current academic research both focuses on national security and intelligence reform, catastrophic risks, organizational economics, law and science, intellectual property, antitrust, and constitutional law. Academic writings by Posner have been translated into French, German, Italian, Spanish, Chinese, Japanese, Korean, Greek, Portuguese, Ukrainian, Lithuanian, and Slovenian. He and the economist Gary Becker write weekly commentaries on policy issues, published in “The Becker-Posner Blog” at http://becker-posner-blog.com/.

 

Thursday, March 16, 2006

DISTINGUISHED JURIST LECTURE

Hon. Vaughn R. Walker
Chief Judge, U.S. District Court for the
Northern District of California

Technology Mergers in a Shrinking World

Lecture: 4:30 to 5:30 PM
Reception: 5:30 to 7:00 PM

Open to the Public

Hon. Vaughn R. Walker

Hon. Vaughn R. Walker is Chief Judge of the United States District Court for the Northern District of California. He became a federal judge in 1990, after having been nominated by Presidents Reagan and George H. W. Bush and confirmed by the Senate. A graduate of the University of Michigan, Walker studied law at the University of Chicago and Stanford and practiced law in San Francisco, handling antitrust and other business cases, from 1972 until his appointment to the bench. He served on the California Law Revision Commission from 1986 to 1989, having been appointed by Governor George Deukmejian.

As a federal judge, Walker has been described as “a pioneer who understands business law.” He will share insights gained in presiding over the Oracle antitrust trial and other high-profile litigation involving mergers and intellectual property issues in high-tech companies (such as the landmark case that pitted Apple Computer against Microsoft). His lecture will focus on the implications for antitrust merger analysis of the increasing importance of intellectual property (i.e., technology) in commercial activity, and the impact of globalization.

Walker is a member of numerous professional organizations, has authored articles in various legal journals and has lectured on business law and judicial topics in the United States, Canada, Europe and the Middle East for the United States Departments of State and Commerce and professional societies.

In addition to his professional activities, Walker is vice-chair of the Saint Francis Foundation and serves on its investment committee; he collects German expressionist graphics and formerly showed American Saddlebred horses.

 

Thursday, March 3, 2005

DISTINGUISHED JURIST LECTURE

Hon. Myron T. Steele
Chief Justice
Delaware Supreme Court

Corporate Federalism: Event Horizons in Corporate Governance

Lecture: 4:30 to 5:30 PM
Reception: 5:30 to 7:00 PM

Open to the Public

Hon. Myron Steele

The Honorable Myron T. Steele is the Chief Justice of the Delaware Supreme Court and a member of the Corporate and Business Litigation Committee of the Business Section and a member of the Judicial Section of the American Bar Association. He is a former Vice Chancellor of the Court of Chancery in Delaware, Resident Judge of Superior Court, Deputy Attorney General, Senate (Delaware) Attorney and Chairman of the Consumer Affairs Board. He has also served as former outside counsel, Board Member and Chairman of the Central Delaware Health Care Corporation. He has presided over major corporate litigation, LLC and limited partner governance disputes and writes frequently on issues of corporate document interpretation and corporate governance. He is a member of the American Board of Trial Attorneys (the first member of the Delaware Judiciary selected) and a former litigation partner in Prickett, Jones & Elliott of Wilmington and Dover, Delaware.

As Vice Chancellor and Superior Court Judge, representative trials over which he has presided include the Viacom/Universal Studio dispute over ownership of the USA Television Networks, Painewebber v. Centocor an internal governance dispute in a nationally traded limited partnership, CFLP v. Cantor, et al., a dispute seeking injunctive and contractual remedies between limited partners and a general partner in a closed partnership and the DuPont v. Admiral environmental insurance coverage litigation. Justice Steele has published over 300 opinions disposing of disputes among members of limited liability companies, and limited partnerships, and between shareholders and management of both publicly traded and closed corporations. He served on active duty in the US. Army and retired as a Colonel in the Delaware Army National Guard after serving as a Command and Staff Judge Advocate and Inspector General. He graduated from the University of Virginia, B.A. Foreign Affairs and the University of Virginia’s School of Law (1970). He is currently a candidate for the LL.M at the University of Virginia’s School of Law (2004).

 

Thursday, October 28, 2004

DISTINGUISHED JURIST LECTURE

Hon. E. Norman Veasey
Chief Justice
Delaware Supreme Court
, 1992 – 2004

A Twelve-Year Retrospective on Delaware Corporate Jurisprudence and Governance Issues

Lecture: 4:30 to 5:30 PM
Reception: 5:30 to 7:00 PM

Open to the Public

Hon. E. Norman Veasey

The Honorable E. Norman Veasey spoke on his experiences at the helm of the Delaware Supreme Court, 1992-2004, sharing his insights about the Delaware judiciary’s significant role in shaping corporate law. This was a special ILE event, designed to honor an individual who served so prominently as the Chief Justice of the Delaware Supreme Court during a critical period in the evolution of corporate law in the United States.

During Mr. Veasey’s tenure as Chief Justice, the U.S. Chamber of Commerce ranked Delaware’s courts first in the nation for three consecutive years for their fair, reasonable and efficient litigation environment. Chief Justice Veasey has also been credited with leading nationwide programs to restore professionalism to the practice of law and adopt best practices in the running of America’s courts. He was awarded the Order of the First State by Delaware Governor Ruth Ann Minner, the state’s highest honor for meritorious service.

E. Norman Veasey earned his LL.B. from the University of Pennsylvania Law School in 1957. From 1957 until he took office as Chief Justice in 1992, Mr. Veasey practiced law with the Wilmington, Delaware, law firm of Richards, Layton and Finger, where he concentrated on business law, corporate transactions, litigation, and counseling. He served at various times as managing partner and the chief executive officer of the firm.

Chief Justice Veasey has served as Chief Deputy Attorney General of the State of Delaware and President of the Delaware State Bar Association. He was also Chair of the Section of Business Law of the American Bar Association from 1994 to 1995, and from 1992 to 1993 was the editor of Volume 48 of The Business Lawyer, the section’s scholarly legal journal. He also served as President of the Conference of Chief Justices in 2000 and Chair of the ABA Special Committee on the Evaluation of the Rules of Professional Conduct (Ethics 2000).

Hon. E. Norman Veasey

Chief Justice Veasey is a longtime friend of the Institute for Law and Economics, serving as a member of ILE’s Board of Advisors and as a frequent speaker and commentator for ILE programs.

Currently, E. Norman Veasey is a senior partner at Weil, Gotshal & Manges, serving as a strategic advisor to the firm’s roster of prominent global clients on a wide range of issues related to mergers and acquisitions, restructuring and litigation. Additionally, he advises on corporate governance issues involving the responsibilities of corporate directors in complex financial transactions and crisis management.