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: hsale@wulaw.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

  • “The "New" Public Corporation, Law & Contemporary Problems” (forthcoming 2011)
  • “Judicial Gatekeepers”
  • “On the Importance of Being Public”


  • Securities Regulation (with J.C. Coffee, Jr.), Foundation Press (11th ed., 2009; Cases and Materials Supplement, 2010)
  • Federal Securities Laws, Selected Statutes, Rules and Forms (with J.C. Coffee, Jr.), Foundation Press (2010)

Recent Book Chapters and Articles

  • “Redesigning the SEC: Does the Treasury Have a Better Idea?” (with J.C. Coffee, Jr.), 95 Virginia Law Review 707 (2009); reprinted in Chinese, 40 Comparative Studies (2009), and 51 Corporate Practice Commentator 715 (2010); to be reprinted/excerpted in Securities Law in Canada (eds. M.B. Condon, A. Anand, & J.P. Sarra), Emond Montgomery Publications (2d ed., forthcoming) [SSRN]
  • “Good-Faith’s Procedure and Substance: In re Caremark International Inc., Derivative Litigation,” The Iconic Cases in Corporate Law (ed. J. Macey), Thomson West (2008)