Skip to main content
Elected Member

Professor
Lisa
M.
Fairfax

Location
Philadelphia, PA, USA
Affiliation
University of Pennsylvania Carey Law School
Education
Harvard University
Harvard Law School

Lisa M. Fairfax is the Alexander Hamilton Professor of Business Law at the George Washington University Law School. Professor Fairfax is the Director of the GW Corporate Law and Governance Initiative. Professor Fairfax teaches courses in the business area including Corporations, a Securities Law Seminar, and Contracts II. Professor Fairfax's scholarly interests include corporate governance matters, fiduciary obligations, board diversity, shareholder activism, affinity fraud, and securities fraud. In addition to her many law review articles, Professor Fairfax has authored a book entitled, "Shareholder Democracy: A Primer on Shareholder Activism and Participation". Professor Fairfax also has written several book chapters on board independence. 

Professor Fairfax is a member of the Investor Advisory Committee of the Securities and Exchange Commission (SEC). Professor Fairfax is also a member of the SEC Historical Society Board of Advisors and the BYU Law School Board of Advisors. Professor Fairfax serves as co-director of the DirectWomen Board Institute, which Institute promotes board diversity by identifying and supporting qualified women attorneys to serve as board candidates. 

Member News

Traynor on Liberty, Law, and Democracy

In his essay "Liberty, Law, and Democracy: Are There Grounds for Realistic Optimism?" Michael Traynor, former President of The American Law Institute, reflects on the challenges facing American democracy amid political polarization and institutional strain. He examines threats to the balance between liberty and law, citing dysfunction across the executive, legislative, and judicial branches, while drawing on historical context and recent scholarship to frame these concerns.

Despite his sober assessment, Traynor maintains a guarded optimism rooted in America’s resilience, civic traditions, and individual potential to effect change. He highlights positive actions within the legal community, nonprofit organizations, and among engaged citizens, while outlining five practical steps Americans can take to strengthen democracy: improving civic education, demanding accountability, fostering open debate, participating in elections and local governance, and resisting simplistic solutions.

Traynor concludes that democracy is “stubborn work,” incremental, imperfect, and ongoing, but expresses confidence that Americans have the resolve to preserve it.

Read the full article The New Nationalist

Michael Traynor is senior counsel at Cobalt LLP in Berkeley California. He served as ALI President from 2000 to 2008, and as Chair of the Council from 2008 to 2011. He is also a recipient of ALI's Distinguished Service Award. Mr. Traynor is a Fellow of the American Academy of Arts & Sciences, the American Academy of Appellate Lawyers, the California Academy of Appellate Lawyers, and the American Association for the Advancement of Science.   He received the John P. Frank Outstanding Lawyer Award from the U.S. Court of Appeals for the Ninth Circuit. He is an honorary life trustee of the Lawyers Committee for Civil Rights Under Law and of Earthjustice and a past President (1973) of the Bar Association of San Francisco.