Hillary A. Sale

Walter D. Coles Professor of Law; Professor of Management


B.A. and M.A., 1983, Boston University
J.D., 1993, Harvard University

Curriculum Vitae




Jamie Roggen - (314) 935-6432

Phone / Email

Phone: (314) 935-4631
E-mail: hillary.sale@wustl.edu 


Anheuser-Busch Hall, Room 579

Courses Taught

Business, Governance, and Law (at Olin School of Management)
Corporate Governance
Securities Regulation


Professor Hillary A. Sale, an expert in securities and corporate governance, ranks among the nation’s best scholars, teachers, and leaders in corporate and securities law. She is a frequent speaker to industry and academics on corporate governance, leadership and women’s leadership, and was selected as one of the 25 Most Influential Women in Business for 2014 by the St. Louis Business Journal. She is the co-author, with John C. Coffee, of a casebook on federal securities regulation, now in its 12th edition, and of a book on federal securities laws, rules, and forms. She has written extensively on matters including, redesigning the SEC, independent directors as securities monitors, derivative litigation, and corporate law and governance. Three of her articles were selected by Corporate Practice Commentator as among the annual "top ten" corporate and securities law articles. Professor Sale also regularly presents her scholarship at conferences and workshops throughout the country. At the law school, she is a recipient of the David M. Becker Professor of the Year Award and she also holds a courtesy appointment as a professor of management at the Olin School of Business. Among her professional affiliations, she is a member of the Executive Committee of DirectWomen and Co-Chair of the DirectWomen Institute, an organization dedicated to educating women attorneys about public company boards. She also is a member of the American Law Institute and a member of the ABA Corporate Laws Committee. She previously was the F. Arnold Daum Chair in Corporate Finance and Law at the University of Iowa, where she received the President’s Collegiate Teaching Award. Before becoming a law professor, she clerked for the Hon. Richard S. Arnold, Chief Judge, U.S. Court of Appeals for the Eighth Circuit, and practiced law with WilmerHale LLP (formerly Hale and Dorr LLP) in Boston, specializing in corporate and securities litigation and internal investigations. She also held several positions with government entities in Massachusetts.

Representative Publications

Forthcoming Scholarship and Works in Progress

  • Market Intermediation, Publicness, and Securities Class Actions (with Robert B. Thompson, forthcoming 2016)
  • "We Believe": Omnicare, Legal Risk disclosure and Corporate Governance (with Donald C. Langevoort, forthcoming 2016)
  • Contracting for Publicness


  • Securities Regulation (with John C. Coffee, Jr. and M. Todd Henderson), Foundation Press (13th ed., 2015; Cases and Materials Supplement, 2014)
  • Federal Securities Laws, Selected Statutes, Rules and Forms (with John C. Coffee, Jr. and M. Todd Henderson), Foundation Press (2015)

Recent Book Chapters and Articles

  • "J.P. Morgan: An Anatomy of Corporate Publicness," 79 Brooklyn Law Review 1630 (2014) [SSRN]
  • "Public Governance," 81 George Washington Law Review 101 (2013) [SSRN]
  • "Judges Who Settle," 89 Washington University Law Review 377 (2012) [Article]
  • "The New 'Public' Corporation," 74 Law & Contemporary Problems 137 (Winter 2011) [SSRN]

Recent Activities

  • "How to Successfully Negotiate A Raise" FOX2 News - [view video]
  • St. Louis Business Journal Women’s Conference 2015 - [view video]
  • Corporate Boards and Governance Class Offers Inside View into Business Leaders' World [view news article]
  • Prof. Sale’s Leadership with DirectWomen Supports Corporate Board Diversity [view news article]