Prof. Hillary A. Sale presented the 22nd Annual F.G. Pileggi Distinguished Lecture in Law earlier this morning in Wilmington, Delaware, to members of the Delaware judiciary, the Delaware bar and members of academia. She provided insightful commentary on the decision by former Chancellor Allen in the case of In Re Caremark International, Inc. Derivative Litigation, 698 A.2d 959 (Del.Ch. 1996). For a short summary of her presentation see here  and here. Her presentation will be the basis for a law review article in The Delaware Journal of Corporate Law. Her insights on the role of the board to provide oversight and monitoring is especially noteworthy in light of recent corporate scandals, including most recently, backdating of options. Updated summary  here.