Daniel Fischel
Encyclopedia
Daniel R. Fischel is the emeritus Lee and Brena Freeman Professor of Law and Business and former Dean
of University of Chicago Law School
, and a co-founder of Lexecon. He is a leading scholar of the regulation of financial markets and corporations, and a frequent expert witness on behalf of defendants in securities litigation.
Fischel graduated Cornell University
in 1972, and received a M.A. in American history from Brown University
in 1974. Fischel received his J.D. cum laude from Chicago Law in 1977, where he was comment editor of the law review
and was elected to the Order of the Coif
. After graduation, he clerked for Judge Thomas E. Fairchild
of the Seventh Circuit Court of Appeals and Justice Potter Stewart
of the Supreme Court of the United States
. He taught at Northwestern University Law School from 1980 to 1984, and joined the Chicago Law faculty in 1984.
As an expert witness, Fischel has testified on behalf of Charles Keating
,http://money.cnn.com/magazines/fortune/fortune_archive/2000/09/04/286801/index.htm Ken Lay, and Jeffrey Skilling
.http://money.cnn.com/2006/01/11/news/companies/enron_fortune/index.htm His work so upset plaintiffs' law firm Milberg Weiss
that they engaged in a vendetta against Fischel and Lexecon, leading to a defamation suit by Fischel and Lexecon that led to a landmark Supreme Court decision about multi-district litigation (Lexecon Inc. v. Milberg Weiss Bershad Hynes & Lerach
, 523 U.S. 26 (1998)) and a $50 million settlement.http://www.appellate.net/docketreports/sc042699.asp The Tenth Circuit Court of Appeals reversed the conviction of Joseph Nacchio
over alleged insider trading
of Qwest
because Judge Edward Nottingham
would not let Fischel testify on Nacchio's behalf.http://www.denverpost.com/nacchio/ci_8607396 Fischel's book, "Payback", argues that the prosecution of Michael Milken
was unjust.http://www.blackwell-synergy.com/doi/abs/10.1111/j.1747-4469.1997.tb01097.x
Dean (education)
In academic administration, a dean is a person with significant authority over a specific academic unit, or over a specific area of concern, or both...
of University of Chicago Law School
University of Chicago Law School
The University of Chicago Law School was founded in 1902 as the graduate school of law at the University of Chicago and is among the most prestigious and selective law schools in the world. The U.S. News & World Report currently ranks it fifth among U.S...
, and a co-founder of Lexecon. He is a leading scholar of the regulation of financial markets and corporations, and a frequent expert witness on behalf of defendants in securities litigation.
Fischel graduated Cornell University
Cornell University
Cornell University is an Ivy League university located in Ithaca, New York, United States. It is a private land-grant university, receiving annual funding from the State of New York for certain educational missions...
in 1972, and received a M.A. in American history from Brown University
Brown University
Brown University is a private, Ivy League university located in Providence, Rhode Island, United States. Founded in 1764 prior to American independence from the British Empire as the College in the English Colony of Rhode Island and Providence Plantations early in the reign of King George III ,...
in 1974. Fischel received his J.D. cum laude from Chicago Law in 1977, where he was comment editor of the law review
University of Chicago Law Review
The University of Chicago Law Review is a law journal published by the University of Chicago Law School, and was established in 1933. From 1942 through 1945 the review was published by the faculty, due to World War II. Prominent former student members have included Judge Abner J...
and was elected to the Order of the Coif
Order of the Coif
The Order of the Coif is an honor society for United States law school graduates. A student at an American law school who earns a Juris Doctor degree and graduates in the top 10 percent of his or her class is eligible for membership if the student's law school has a chapter of the...
. After graduation, he clerked for Judge Thomas E. Fairchild
Thomas E. Fairchild
Thomas Edward Fairchild , was a U.S. federal judge and former politician from Wisconsin. Before his death, he served as a Senior Judge on the United States Court of Appeals for the Seventh Circuit....
of the Seventh Circuit Court of Appeals and Justice Potter Stewart
Potter Stewart
Potter Stewart was an Associate Justice of the United States Supreme Court. During his tenure, he made, among other areas, major contributions to criminal justice reform, civil rights, access to the courts, and Fourth Amendment jurisprudence.-Education:Stewart was born in Jackson, Michigan,...
of the Supreme Court of the United States
Supreme Court of the United States
The Supreme Court of the United States is the highest court in the United States. It has ultimate appellate jurisdiction over all state and federal courts, and original jurisdiction over a small range of cases...
. He taught at Northwestern University Law School from 1980 to 1984, and joined the Chicago Law faculty in 1984.
As an expert witness, Fischel has testified on behalf of Charles Keating
Charles Keating
Charles Humphrey Keating Jr. is an American athlete, lawyer, real estate developer, banker, and financier, most known for his role in the savings and loan scandal of the late 1980s....
,http://money.cnn.com/magazines/fortune/fortune_archive/2000/09/04/286801/index.htm Ken Lay, and Jeffrey Skilling
Jeffrey Skilling
Jeffrey Keith "Jeff" Skilling is the former president of Enron Corporation, headquartered in Houston, Texas. In 2006 he was convicted of multiple federal felony charges relating to Enron's financial collapse, and is currently serving a 24-year, four-month prison sentence at the Federal...
.http://money.cnn.com/2006/01/11/news/companies/enron_fortune/index.htm His work so upset plaintiffs' law firm Milberg Weiss
Milberg Weiss
Founding and HistoryFounded in 1965 by attorneys Larry Milberg and Melvyn I. Weiss, Milberg LLP is a U.S. plaintiffs' law firm...
that they engaged in a vendetta against Fischel and Lexecon, leading to a defamation suit by Fischel and Lexecon that led to a landmark Supreme Court decision about multi-district litigation (Lexecon Inc. v. Milberg Weiss Bershad Hynes & Lerach
Lexecon Inc. v. Milberg Weiss Bershad Hynes & Lerach
Lexecon Inc. v. Milberg Weiss Bershad Hynes & Lerach, 523 U.S. 26 , unanimously held that a district court conducting pretrial proceedings pursuant to 28 U.S.C. § 1407 has no authority to invoke 28 U.S.C...
, 523 U.S. 26 (1998)) and a $50 million settlement.http://www.appellate.net/docketreports/sc042699.asp The Tenth Circuit Court of Appeals reversed the conviction of Joseph Nacchio
Joseph Nacchio
Joseph P. Nacchio , was chairman of the board and chief executive officer of Qwest Communications International from 1997 to 2002. He was convicted of 19 counts of insider trading in Qwest stock on April 19, 2007. On July 27, 2007, he was sentenced to six years in federal prison...
over alleged insider trading
Insider trading
Insider trading is the trading of a corporation's stock or other securities by individuals with potential access to non-public information about the company...
of Qwest
Qwest
Qwest Communications International, Inc. was a large United States telecommunications carrier. Qwest provided local service in 14 western U.S. states: Arizona, Colorado, Idaho, Iowa, Minnesota, Montana, Nebraska, New Mexico, North Dakota, Oregon, South Dakota, Utah, Washington, and Wyoming.On April...
because Judge Edward Nottingham
Edward Nottingham
Edward Willis Nottingham, Jr. is a former United States federal judge in the United States District Court for the District of Colorado having served in that office from November 24, 1989 until his resignation on October 21, 2008....
would not let Fischel testify on Nacchio's behalf.http://www.denverpost.com/nacchio/ci_8607396 Fischel's book, "Payback", argues that the prosecution of Michael Milken
Michael Milken
Michael Robert Milken is an American business magnate, financier, and philanthropist noted for his role in the development of the market for high-yield bonds during the 1970s and 1980s, for his 1990 guilty plea to felony charges for violating US securities laws, and for his funding of medical...
was unjust.http://www.blackwell-synergy.com/doi/abs/10.1111/j.1747-4469.1997.tb01097.x