Message from the Dean

For almost four decades, the Institute for Law and Economics has successfully demonstrated the benefits of cross-disciplinary perspectives.

ILE’s programming is a model for building bridges between disciplines and for creating ties among schools, faculty members, students, and experts in the field. ILE combines Penn’s greatest strengths in the Law School, the Wharton School, and the Department of Economics to focus on complex and timely questions. ILE proves that bringing a diverse group of experts together —judges, deal-makers, regulators, business leaders, lawyers, bankers, policymakers, academics, and more—generates important and original insights.

In addition to its unique focus, another of the Institute’s strengths is the variety of programs it offers. The roundtables—ILE’s signature events—bring together distinguished members of the bar, judiciary, government, business world, and academia for open discussion and intellectual exploration. ILE’s public lectures by leading jurists, executives, and entrepreneurs attract participants from all sectors of the University and from the wider community. During the past year, the outstanding talks, panels, and conferences organized by the Institute covered a wide range of topics, including SEC enforcement, virtual shareholders meetings, ESG mutual funds, MAE disputes, stockholder inspection litigation, SPACs, tech M&A, allyship, and racial equity in corporate governance. Like the Law School and the entire university, ILE confronted the challenge of offering programs by remote communication this year. ILE met that challenge with great success, continuing its programming in a virtual format offering even more events and attracting even more participants than before.

We are proud of the generous support ILE receives from the many corporations, law firms, investment banks and other contributors who understand the importance of what we do and the unique position the Institute holds. Many of the ILE contributors also serve as members of the Institute’s Board of Advisors, helping to plan the direction and focus of the programs and lending their expertise as panelists and commentators for ILE events.

We owe a particular debt of gratitude to ILE’s extraordinary co-chairs, Joe Frumkin (L’85) and David Silk (L’88), for their many exceptional contributions. Like all who serve as advisors for ILE, Joe and David have contributed their very valuable time and expertise, in addition to drawing on their numerous contacts in the legal and business communities. ILE has benefited substantially from their leadership.

I also thank the two eminent professors who have led the Institute for Law and Economics—Jill Fisch and Elizabeth Pollman. It is because of their commitment that ILE ranks among the premier institutions of its kind. Lisa Fairfax will be a tremendous addition to this outstanding team. I expect the Institute to continue to grow and prosper under their direction supported by the enthusiastic efforts of Larry Hamermesh, the Executive Director, and Nadia Jannetta, the Managing Director. I extend the deepest appreciation to all ILE supporters and participants for their commitment and investment over the years.

THEODORE RUGER, Dean and Bernard G. Segal Professor of Law,

University of Pennsylvania Carey Law School

June 2021