Fordham Law

Professor Sean Griffith Writes Top Article of 2009

April 29, 2010

An article written by Fordham Law Professor Sean Griffith has been selected one of the ten best corporate and securities articles of 2009.Fordham Law Professor Sean Griffith
Griffith and co-author Tom Baker were recognized for their article, “How the Merits Matter: Directors’ and Officers’ Insurance and Securities Settlements,” 157 U. Pa. L. Rev. 755-832 (2009). The selection was announced by the Corporate Practice Commentator, which holds a poll every year to determine the best articles. Corporate and securities law scholars are asked to select the best articles from those published and indexed in legal journals during 2009. 

The article is part of a larger empirical project investigating the relationship between corporate governance and directors' and officers' (D&O) insurance.  After conducting extensive interviews with those involved in all aspects of D&O insurance—including underwriters, claims managers, brokers, risk managers, actuaries, plaintiffs and defense lawyers, and monitoring counsel—Griffith and Baker were able to elucidate the extent to which D&O insurance preserves or subverts the deterrence objectives of corporate and securities law. 

“Sean's scholarship is thoughtful and compelling, and he deserves this important recognition and all the numerous accolades he has received,” said Dean William Michael Treanor. "We are very pleased to have him here at the Law School, not only as an expert corporate and securities law scholar, but also as a tremendously gifted teacher."

“How the Merits Matter" is the final article in a series of three. The first article, “Predicting Corporate Governance Risk,” 74 U. Chi. L. Rev. 487 (2007) describes how insurers evaluate risk in underwriting D&O policies. The second article, "The Missing Monitor in Corporate Governance: The Directors’ & Officers’ Liability Insurer," 95 Geo. L.J. 1795 (2008) was named one of the ten best corporate and securities articles of 2007.

Griffith and Baker also have a forthcoming book on the subject, Ensuring Corporate Misconduct: How Liability Insurance Undermines Shareholder Litigation, due out in November 2010 from the University of Chicago Press.

Contact: Stephen Eichinger