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Pritchard, Adam C.

Frances and George Skestos Professor of Law

1039 Legal Research

Adam C. Pritchard, the Frances and George Skestos Professor of Law, teaches corporate and securities law. He is the author, with Stephen J. Choi, of Securities Regulation: Cases and Analysis, currently in its fourth edition. His research focuses on securities class actions, Securities and Exchange Commission (SEC) enforcement, and the history of securities law in the U.S. Supreme Court. His articles have appeared in the American Law & Economics Review, the Journal of Empirical Legal Studies, the Journal of Finance, the Journal of Law, Economics, and Organizations, and various law reviews. Prof. Pritchard holds BA and JD degrees from the University of Virginia, as well as an MPP from the Harris School of Public Policy at the University of Chicago. While at Virginia, he was an Olin Fellow in Law and Economics and served as articles development editor of the Virginia Law Review. After graduation, he clerked for the Hon. J. Harvie Wilkinson III of the U.S. Court of Appeals for the Fourth Circuit and served as a Bristow Fellow in the Office of the Solicitor General at the U.S. Department of Justice. After working in private practice, Prof. Pritchard served as senior counsel in the Office of the General Counsel of the SEC, where he wrote appellate briefs and studied the effect of recent reforms in the areas of securities fraud litigation. He received the SEC's Law and Policy Award for his work in United States v. O'Hagan, in which the U.S. Supreme Court upheld the misappropriation theory of insider trading. Prof. Pritchard has been a visiting professor at the Northwestern University School of Law, the Georgetown University Law Center, and the University of Iowa School of Law. He also has been a visiting scholar at the SEC and a visiting fellow in capital market studies at the Cato Institute. He was previously a member of the FINRA National Adjudicatory Council and currently serves on the Nasdaq Listing Qualifications Panel.

Recent Publications

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Halliburton II: A Loser's History. U of Michigan Law & Economics Research Paper No. 15-007. Working Paper.
Full Text: SSRN

Co-author. "The Influence of Arbitrator Background and Representation on Arbitration Outcomes." S. J. Choi and J. E. Fisch, co-authors. Va. L. & Bus. Rev. 9, no. 1 (2014): 43-90.
Full Text: SSRN | Westlaw | Lexis

​Co-author. Carrot or Stick? The Shift from Voluntary to Mandatory Disclosure of Risk Factors. K. K. Nelson, co-author. Univ. Of Michigan Law School, Law and Economics Research Paper Series, no. 14-013. Working Paper, 2014.​
Full Text: MLaw Repository | SSRN​ ​

Co-author. SEC Investigations and Securities Class Actions: An Empirical Comparison. S. J. Choi, co-author. Univ. of Michigan Law School, Law & Economics Research Paper Series, no 12-022. Working Paper, 2012.
Full Text: MLaw Repository | SSRN

Co-author. "Scandal Enforcement at the SEC: The Arc of the Option Backdating Investigations." S. J. Choi and A. C. Wiechman, co-authors. Am. L. & Econ. Rev. 15, no. 2 (2013): 542-77.
Full Text: MLaw Repository | SSRN | Oxford Journals (UMich users) | Oxford Journals

"Revisiting 'Truth in Securities' Revisited: Abolishing IPOs and Harnessing Private Markets in the Public Good." Seattle U. L. Rev. 36, no. 2 (2013): 999-1026.
Full Text: MLaw Repository | HEIN (UMich users) | HEIN | SSRN | Westlaw

"Launching the Insider Trading Revolution: SEC v. Capital Gains Research Bureau." In Research Handbook on Insider Trading, edited by S. Bainbridge, 33-51. Research Handbooks in Corporate Law and Governance. Northampton, Mass.: Elgar, 2013.
Full Text: MLaw Repository | SSRN

Co-author. Securities Regulation: Cases and Analysis. 3rd ed. S. J. Choi, co-author. New York: Thomson Reuters/Foundation Press, 2012.

"Monitoring of Corporate Groups by Independent Directors." In Korean Business Law, edited by H-J Kim, 77-100. Elgar Korean law. Cheltenham, UK: Edward Elgar, 2012. (Originally published as "Monitoring of Corporate Groups by Independent Directors." J. Korean L. 9, no. 1 (2009): 1-25.)

"Facebook, the JOBS Act, and Abolishing IPOs." Regulation 35, no. 3 (2012): 12-7.
Full Text: MLaw Repository | SSRN | WWW


Presented "Revisiting 'Truth in Securities Revisited': Abolishing IPOs and Harnessing Private Markets in the Public Good" at the Berle IV Conference, University College, London, June 2012.

Presented "Scandal Enforcement at the SEC: Salience and the Arc of the Option Backdating Investigations" at the American Law and Economics Association's Annual Meeting, May 2012.

Discussed secondary liability for securities fraud at the American Bar Association Section of Litigation Annual Conference, Washington, D.C., April 2012.

Commentator, Second Annual Junior Faculty Business and Financial Law Workshop, George Washington University Law School, February 2012.

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