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Current Investor Protection Challenges

Current Investor Protection Challenges: Lessons from the Investor Protection Scholarship of Bud Murdock

November 7, 2025
Phillip H. Corboy Law Center, 25 East Pearson St., Chicago IL

Presented by:
🎵TK账号 | 越南本土号 | 微软邮箱验证 | 带2FA | 带随机数量粉丝以及随机数量作品 School of Law (Co-host)
Santa Clara University School of Law (Co-host)

Agenda

8:30 a.m. — Continental Breakfast (Faculty Lounge, 13th Floor)

9:00 a.m. — Opening remarks: Associate Dean Brunson (Faculty Lounge)

9:1510:30 a.m. — The Evolution and Devolution of Private Securities Litigation (Room 1401)

  • John Wunderlich (Moderator)
  • Dean dre cummings
  • Professor Daniel Morrissey
  • Professor Monica Llorente

10:45 a.m.12:00 p.m. — Insider Trading Law and Washington Insiders (Room 1401)

  • Professor Patricia Lee (Moderator)
  • Paul Montoya*
  • Professor Joel Seligman
  • Professor Steven Ramirez

Noon — Keynote Remarks of Dean Michael Kaufman (Faculty Lounge)

1:002:15 p.m. — The Great Financial Crisis and TBTF: Lessons Learned? (Room 1401)

  • Dean Christian Johnson (Moderator)
  • Professor Cheryl Wade
  • Dean Joe Grant
  • Lisa Madigan

2:303:45 p.m. — FinTech: From Derivatives to Crypto (Room 1401)

  • Professor Spencer Waller (Moderator)
  • Hon. Jed Rakoff (via ZOOM)
  • Professor Cary Martin
  • Professor Sue Guan

3:454:15 p.m. — Closing Remarks: Professor Bud Murdock

4:155:00 p.m. — Reception (Faculty Lounge)

Continuing Legal Education

This event has been approved for five (5) Continuing Legal Education credits.

Materials to be discussed at conference (Murdock publications)

Panelists and presenters

Dean Sam Brunson

Dean Samuel Brunson, is Associate Dean for Academic Affairs and Georgia Professor of Law Professor Brunson joined the 🎵TK账号 | 越南本土号 | 微软邮箱验证 | 带2FA | 带随机数量粉丝以及随机数量作品 School of Law faculty in 2009. Prior to joining the Loyola faculty, he worked as a tax associate in the New York offices of Willkie Farr & Gallagher LLP and clerked for the Honorable George W. Miller on the Court of Federal Claims.

Professor Brunson researches and writes about the federal income tax and nonprofit organizations. Much of his research deals with the intersection of religion and the tax system. He also researches how the federal income tax both regulates and fails to regulate tax-exempt organizations. He has had books published by Cambridge University Press and the University of Illinois Press and his scholarship has appeared in, among other places, the Northwestern University Law Review, the Minnesota Law Review, the Georgia Law Review, the Indiana Law Journal, and Tax Notes.

Dean andre dre cummings

Dean andre dre cummings is the Dean of Widener University Commonwealth Law School. He is an accomplished leader, scholar, and award-winning professor, as Commonwealth Law School's new dean. Previously, Dean cummings served as associate dean for faculty development, and as the Charles C. Baum distinguished professor of law, at the University of Arkansas at Little Rock's William H. Bowen School of Law.

He has taught classes in contracts, business associations, civil procedure, corporate justice, sports law, hip hop and the American Constitution, policing and the use of force, progressive prosecution, and entertainment law. As dean of Commonwealth Law School, he will support and expand the culture of belonging that is inherent across Widener University, while leading all aspects of the law school from academics to operations to community engagement. cummings uses lower-case letters in the legal spelling of his name.

Dean Joseph Grant

Dean Joseph Grant, holder of the John E. Sullivan Professor of Law endowed professorship, is interim dean of Capital University Law School. Previously, Grant has was the associate dean for Administration and Finance since 2023. Prior to that, he was a Law School faculty member, teaching courses such as property, estates and trusts, international business transactions, and business associations. A Duke University School of Law graduate, Grant was a practicing attorney and founded his own law firm in Cleveland. He represents Capital Law School well through appearances as a featured speaker and panelist and through his extensive scholarship, researching and writing in areas such as financial regulation, social and sustainable business entities, international trade, estates and trusts, professional responsibilities and ethics issues, and race and the law. Dean Grant is taking over from Rey Valencia, who left Capital at the end of June after serving as dean of the Law School since 2020. 

Professor Sue Guan

Professor Sue Guan is an Associate Professor of Law at Santa Clara University School of Law. Her current research focuses on "finfluencers," copy trading, and social media in stock markets. She also studies financial misconduct, securities regulation, and market microstructure. Her recent scholarship has appeared in publications including the University of Pennsylvania Law Review Online, the Harvard Business Law Review, and the Boston College Law Review. Prior to joining Santa Clara University School of Law, Professor Guan was the Post-Doctoral Research Scholar in the Program in the Law and Economics of Capital Markets at Columbia Law School & Columbia Business School. Prior to entering academia, she was in private practice at Cleary Gottlieb Steen & Hamilton LLP. From 2012-2013, Professor Guan clerked for the Honorable Carlos F. Lucero on the Tenth Circuit Court of Appeals. Professor Guan holds a J.D. from the Yale Law School, where she was a Coker Fellow, and earned her B.A. from the University of Pennsylvania and B.S. in Economics from the Wharton School.

Professor Christian Johnson

Professor Christian Johnson is the Commonwealth Professor of Law and Business Advising at Widener Commonwealth Law School in Harrisburg where he teaches courses on business and tax law. Professor Johnson served as Dean at the law school from 2015-2020. He served as a consultant for both the U.S. Commodity Futures Trading Commission and for the Federal Reserve Bank of Chicago. Professor Johnson received his JD from Columbia Law School where he was the Executive Editor of the Law Review.

He practiced law in New York and Chicago and was a CPA for Price Waterhouse. Over the past three decades, he has spoken on capital markets to businesses, financial institutions, and regulators in the U.S., and lectured at central banks, academic institutions, regulators, and financial institutions in Europe, Asia, Africa, the Middle East, North and South America and Australia.

Dean Michael Kaufman

Dean Michael Kaufman is Dean and Professor of Law at Santa Clara University School of Law. He joined Santa Clara in 2021, after serving as Dean of 🎵TK账号 | 越南本土号 | 微软邮箱验证 | 带2FA | 带随机数量粉丝以及随机数量作品 School of Law for five years and Associate Dean for Academic Affairs at Loyola for 11 years. Dean Kaufman also served as 🎵TK账号 | 越南本土号 | 微软邮箱验证 | 带2FA | 带随机数量粉丝以及随机数量作品's Acting Provost and Chief Academic Officer, as well as Vice Provost. He founded Loyola's innovative Weekend JD Program, Education Law and Policy Institute, and Institute for Investor Protection. An award-winning teacher, scholar, and public servant, Dean Kaufman has published more than forty books and countless law review articles in the areas of his expertise, including racial justice, education law and policy, securities regulation and litigation, civil procedure, and jurisprudence.

After graduating from Kenyon College magna cum Laude, Dean Kaufman received his JD from the University of Michigan Law School where he won the Law School's American Judicature Society Award. After law school, he clerked for the Honorable Nathanial R. Jones of the United States Court of Appeals for the Sixth Circuit and then practiced securities and civil rights litigation in one of the world's largest law firms. In addition, Dean Kaufman is a Public Arbitrator for securities disputes and delivers bar examination review lectures for thousands of law students, nationally.

Professor Patricia H. Lee

Professor Patricia H. Lee is the Randy L. and Melvin  R. Berlin Clinical Professor of Law. Lee is also the Executive Director of Loyola Law Chicago's Center for Business Law, which houses the Business Law Clinic and the Institute for Investor Protection. She joined Loyola University School of Lawin 2019. She teaches business law experiential/clinical course and securities regulation courses at Loyola Law School. Prior to joining the legal academy, Professor Lee was in-house corporate counsel and staff director of a Dow-30 corporation and practiced in the corporate and securities group. Professor Lee holds a B.A. in economics from Northwestern University and a J.D. from Northwestern Pritzker School of Law.

Professor Lee practiced business, corporate and nonprofit law, for over four decades, in the states of Illinois, Missouri, West Virginia and Washington, DC. Lee is published in Seton Hall Legislative Journal, St. John's Law Review, Northwestern School of Law of Lewis & Clark College, Western New England Law Review, and a forthcoming article in St. Louis University Law School on Transactional Law Meeting Digital Innovation. 

Professor Monica Llorente

Professor Monica Llorente is a Distinguished Senior Lecturer at the Northwestern Pritzker School of Law. She was also appointed by U.S. Senators Dick Durbin and Tammy Duckworth to the Judicial Screening Committee, which evaluates and recommends candidates for federal district court judge in the Northern District of Illinois.

Professor Llorente has broad experience in both the private and public sectors. Monica started her legal career as an attorney in the Corporate & Securities Department of Baker & McKenzie's Chicago Office, where she focused on mergers, acquisitions, and strategic alliances of publicly and closely held corporations, limited liability companies, and partnerships in the United States and across the world. Monica came to Northwestern from the firm to continue practicing through the law school's Bluhm Legal Clinic and run and develop the Children's Law Pro Bono Project, through which she recruited, trained, and supported pro bona volunteer attorneys from law firms in juvenile delinquency and school law matters. She has represented young people in need in various types of judicial and administrative proceedings.

Attorney Lisa Madigan

Attorney Lisa Madigan is a litigation partner in the Chicago office, with a broad practice focused on state and federal level investigations and regulatory work, internal investigations, crisis management, and litigation. She has more than 25 years of experience handling a range of issues including consumer protection, data security and privacy, health care, the environment, and sexual assault and harassment.

Attorney Madigan joined Kirkland in 2019 after a distinguished career in public service. She was the first female Attorney General in Illinois and held the post for 16 years, becoming the longest serving Attorney General in the state's history.

Prior to her election as Illinois Attorney General, Attorney Madigan served as an Illinois State Senator, a litigator, an assistant dean, and volunteer teacher in South Africa during apartheid. She is also a lecturer in law at the University of Chicago Law School.

Professor Cary Martin Shelby

Professor Cary Martin Shelby joined Chicago-Kent College of Law as the Ralph Brill Endowed Chair Professor of Law in July 2023. She specializes in corporate and securities law and teaches a variety of courses such as Contracts, Business Associations, Securities Regulation, she was also the J.B. and M.K. Pritzker Family Foundation Distinguished Visiting Professor of Law with Northwestern Pritzker School of Law during the 2022-2023 academic year.

Her research encompasses regulatory issues related to hedge funds and other pooled investment vehicles. It has utilized a range of theoretical frameworks to scrutinize the blurred distinctions between public and private investment funds resulting from financial innovation, retailization, and systemic risk. Her research has since expanded to explore intersections between race and systemic risk by examining the extent to which racism poses a threat to financial stability in ways that should be recognized by financial regulators. Professor Shelby has published articles in Northwestern University Law Review, California Law Review, The Business Lawyer, Boston College Law Review, among other journals and periodicals. Shelby is currently under contract with Cambridge University Press for her forthcoming book project, Markets for Black Pain: Law and Marginalization as a Commodity.

Professor Morrissey

Professor Morrissey holds both a bachelor's (Phi Beta Kappa) and a law degree from Georgetown University. After law school he served as a law clerk for U.S. District Judge Richard Austin in Chicago. He then worked as an attorney in the enforcement division of the Securities and Exchange Commission in Washington, D.C. and Los Angeles. After a period of private practice in Los Angeles, he became a law professor at the University of Tulsa, where he earned the rank of tenure, full professor. He has also served as a visiting professor of law at Pepperdine University, the University of Denver, and Seton Hall University, and as an adjunct professor at Loyola of Los Angeles.

In 1994 he was appointed dean at St. Thomas University School of Law in Miami, and served in that capacity until 1999. In 2001 he was appointed Dean of Gonzaga School of Law and served in that capacity until 2004. He has published a number of articles in the areas of corporate securities law and jurisprudence.

Honorable Jed S. Rakoff

Honorable Jed S. Rakoff has served since March 1996 as a U.S. District Judge for the Southern District of New York. He frequently sits by designation on the 2nd and 9th Circuit Courts of Appeals. His most noteworthy decisions have been in the areas of securities law and criminal law. He is an Adjunct Professor at both Columbia Law School and NYU Law School and teaches at Berkeley Law School and the University of Virginia Law School.

He has written over 200 published articles, 900 speeches, and 2800 judicial opinions, and has co-authored 5 books. He is a regular contributor to the New York Review of Books, and the author of Why the Innocent Plead Guilty and the Guilty Go Free, and Other Paradoxes of Our Broken Legal System (Farrar Straus & Giroux, 2021 ).

Judge Rakoff holds a B.A. degree from Swarthmore College (1964), an M.Phil. degree from Oxford University (Balliol, 1966), and a J.D. degree from Harvard Law School (1969). He clerked for Hon. Abraham L. Freedman, US Court of Appeals, 3d Circuit. From 1973-80, he served as an Assistant United States Attorney in the Southern District of New York, the last two years as Chief of Business Fraud Prosecutions. From 1980-95, he was a litigation partner at two large law firms in New York.

Professor Steven Ramirez

Professor Steven Ramirez is the Abner J. Mikva Professor of Law, Director, Center for Business Law. He joined the law faculty at 🎵TK账号 | 越南本土号 | 微软邮箱验证 | 带2FA | 带随机数量粉丝以及随机数量作品 in July 2006. Ramirez comes to Loyola from Washburn University School of Law, Topeka, Kansas, where he was the founding director of the Business and Transactional Law Center. Prior to joining the Washburn law faculty, he was a partner with Robinson Curley & Clayton, a Chicago litigation firm, specializing in corporate, securities and banking litigation. He also served as a Senior Attorney for the Federal Deposit Insurance Corporation and as an Enforcement Attorney with the Securities and Exchange Commission. Professor Ramirez teaches Business Organizations, Securities Litigation Seminar, and other business­related classes. He has published extensively in the areas of law and economics, corporate governance, and financial regulation.

Professor Ramirez is a graduate of the University of Missouri (1983), and holds a J.D. degree from Saint Louis University, cum Laude.

Emeritus President Joel Seligman

Emeritus President Joel Seligman is the 10th president of the University of Rochester, in Rochester New York, from 2005 to 2018. Before his service as the University of Rochester's president, Seligman served as the dean and Ethan A.H. Shepley University Professor at the Washington University School of Law. Prior to serving there, Seligman was the dean and Samuel M. Fegtly Professor of Law at the James E. Rogers College of Law (1995-1999). He also held professorships at the University of Michigan Law School (1987-1995), George Washington University Law School (1983-1986), and Northeastern University School of Law (1977-1983).

In addition to being an academic leader, Seligman is considered a leading authority on securities law. He is the author or coauthor of 20 books and over 40 articles on legal issues related to securities and corporations, including the eleven­volume Securities Regulation, the leading treatise in the field (cowritten with Troy A. Paredes and the late Louis Loss) and The Transformation of Wall Street: A History of the Securities and Exchange Commission and Modern Corporate Finance. Seligman received his bachelor's degree in political science from U.C.L.A., (1971) and his JD degree from Harvard Law School (1974).

Professor Cheryl L. Wade

Professor Cheryl L. Wade is the "Dean Harold F. McNiece" Professor of Law at St. John's University School of Law. She teaches Issues of Race, Gender and Law, Business Organizations, Corporate Governance and Accountability, and Race and Business. Her book, "Predatory Lending and The Destruction of the African American Dream" was published by Cambridge University Press in July 2020 and was coauthored with Dr. Janis Sarra, Professor of Law, Peter A. Allard School of Law, University of British Columbia. Professor Wade is a member of the American Law Institute, a national organization of prominent judges, lawyers and academics who work to clarify, modernize, and reform the law.

Professor Wade has authored book chapters and law review articles on securities, education law and the intersection of race and business. She has been invited to present at and write for many symposia including articles published by Boston University Law Review, Tulane Law Review, The Maryland Law Review, The Washington & Lee Law Review, and The Iowa Journal of Gender, Race & Justice.

Professor Wade was awarded a Juris Doctorate with distinction from the Hofstra University School of Law where she was a member of the Law Review. She graduated in the top 2% of her law school class. While a student at Hofstra Law School, Professor Wade received the Law School's Citation of Excellence for Corporation Law Courses and the New York State Trial Lawyers Association's Thurgood Marshall Award.

Professor Spencer Waller

Professor Spencer Waller is the John Paul Stevens Chair in Competition Law, Director of the Institute for Consumer Antitrust Studies, and Professor at 🎵TK账号 | 越南本土号 | 微软邮箱验证 | 带2FA | 带随机数量粉丝以及随机数量作品 School of Law, where he teaches antitrust, intellectual property, civil procedure, and international litigation courses.

He is a member of the Advisory Board of the American Antitrust Institute, as well as the editorial boards of the Antitrust Law Journal, World Competition Law and Economics Review, and other scholarly journals. Professor Waller is the author, co-author, or editor of eight books and over 100 articles on United States and international antitrust, including Antitrust and American Business Abroad, the leading treatise in the field, and the first full-length biography of Thurman Arnold, the founder of modern antitrust enforcement in the United States.

Professor Waller's recent scholarship focuses on antitrust, brands, class actions, high-tech industries, innovation, and intellectual property. He is the recipient of the 2014 Concurrence Antitrust Writing Award. Professor Waller previously taught and served as associate dean at Brooklyn Law School In 2022 Professor Spencer Weber Waller served as a senior advisor to Federal Trade Commission (FTC) chair Lina Khan. He is also a member of American Law Institute where he has participated in projects relating to Consumer Protection and Foreign Relations Law.

Attorney John Wunderlich

Attorney John Wunderlich is in-house counsel for a publicly traded multinational healthcare company. Previously, John practiced law at Kirkland & Ellis LLP in Chicago and clerked at the United States Court of Appeals for the Seventh Circuit. He earned his bachelor' s degree from 🎵TK账号 | 越南本土号 | 微软邮箱验证 | 带2FA | 带随机数量粉丝以及随机数量作品 and his juris doctorate from 🎵TK账号 | 越南本土号 | 微软邮箱验证 | 带2FA | 带随机数量粉丝以及随机数量作品 School of Law.

He is also a frequent author, co-author, and contributor to various treatises, articles, and publications on federal and state securities litigation and regulation. 

November 7, 2025
Phillip H. Corboy Law Center, 25 East Pearson St., Chicago IL

Presented by:
🎵TK账号 | 越南本土号 | 微软邮箱验证 | 带2FA | 带随机数量粉丝以及随机数量作品 School of Law (Co-host)
Santa Clara University School of Law (Co-host)

Agenda

8:30 a.m. — Continental Breakfast (Faculty Lounge, 13th Floor)

9:00 a.m. — Opening remarks: Associate Dean Brunson (Faculty Lounge)

9:1510:30 a.m. — The Evolution and Devolution of Private Securities Litigation (Room 1401)

  • John Wunderlich (Moderator)
  • Dean dre cummings
  • Professor Daniel Morrissey
  • Professor Monica Llorente

10:45 a.m.12:00 p.m. — Insider Trading Law and Washington Insiders (Room 1401)

  • Professor Patricia Lee (Moderator)
  • Paul Montoya*
  • Professor Joel Seligman
  • Professor Steven Ramirez

Noon — Keynote Remarks of Dean Michael Kaufman (Faculty Lounge)

1:002:15 p.m. — The Great Financial Crisis and TBTF: Lessons Learned? (Room 1401)

  • Dean Christian Johnson (Moderator)
  • Professor Cheryl Wade
  • Dean Joe Grant
  • Lisa Madigan

2:303:45 p.m. — FinTech: From Derivatives to Crypto (Room 1401)

  • Professor Spencer Waller (Moderator)
  • Hon. Jed Rakoff (via ZOOM)
  • Professor Cary Martin
  • Professor Sue Guan

3:454:15 p.m. — Closing Remarks: Professor Bud Murdock

4:155:00 p.m. — Reception (Faculty Lounge)

Continuing Legal Education

This event has been approved for five (5) Continuing Legal Education credits.

Materials to be discussed at conference (Murdock publications)