Christina Sautter
Associate Dean for Research and Professor of Law
Full-time faculty
Christina M. Sautter is the Associate Dean for Research and Professor of Law at SMU Dedman School of Law and Co-Founder of the Center for Retail Investors & Corporate Inclusion (the RICI Center). A globally recognized scholar of retail investor rights, corporate governance, and mergers and acquisitions, her work sits at the intersection of capital markets, corporate law, and democratic participation. She examines how the structure of corporate law shapes the rights and voice of individual investors, and who gets systematically left out.
Professor Sautter has held distinguished visiting appointments at preeminent institutions across the United Kingdom and Europe. During the 2024–25 academic year, she was a Visiting Fellow at the London School of Economics and Political Science (LSE) Law School, a Visiting Scholar at the University of Edinburgh Law School, and a Visiting Scholar at Dublin City University School of Law and Government. She has served as a Visiting Professor of Law at Bocconi University School of Law in Milan (April–May 2025), where she taught doctoral seminars on U.S. securities law, corporate shareholding, retail investors, and M&A and related securities regulation. She will join the Università degli Studi di Milano (University of Milan) as a Visiting Professor of Law in April–May 2026.
Professor Sautter’s scholarship addresses some of the most consequential questions in modern corporate law: who holds meaningful power in corporate governance, and who is excluded from it. Her article “Corporate Disenfranchisement,” co-authored with Sergio Alberto Gramitto Ricci and forthcoming in the UC Irvine Law Review, introduces a theoretical framework for understanding how the structural evolution of corporate law has eroded the rights and voice of retail shareholders. Her earlier article “Corporate Governance Gaming: The Collective Power of Retail Investors,” published in the Nevada Law Review, examined the GameStop phenomenon and introduced the concept of the “wireless investor,” a new generation of retail shareholders who invest through digital platforms and source the bulk of their investing information online.
Her M&A scholarship centers on the sale process of publicly traded companies and the intersection of fiduciary duties and deal terms. She co-authored Mergers and Acquisitions Law, a hornbook published by West Academic Publishing.
Her articles have appeared in the Boston University Law Review, Washington University Law Review, Florida Law Review, the Journal of Corporation Law, and other leading journals. She serves on the Executive Committee of the AALS Section on Securities Regulation.
Professor Sautter is a regular source for journalists covering corporate governance, securities regulation, and capital markets. Her scholarship and commentary have been featured by The Wall Street Journal, the Financial Times, Bloomberg, NPR Marketplace, Forbes, Fortune, USA Today, and other major outlets. She also serves as an expert witness in litigation involving corporate structure, corporate governance, and mergers and acquisitions.
Prior to joining SMU, Professor Sautter was a member of the faculty at LSU Paul M. Hebert Law Center from 2008 to 2023, where she held three named professorships: the Cynthia Felder Fayard Professorship, the Byron R. Kantrow Professorship, and the Vinson & Elkins Professorship. Before entering the academy, she practiced in the Mergers & Acquisitions Group at the New York City offices of Shearman & Sterling LLP (now A&O Shearman), representing companies across industries in multi-million- and billion-dollar multinational transactions on both the buy side and sell side and advising boards of directors on corporate governance matters. She clerked for the late Honorable H. Emory Widener, Jr. of the United States Court of Appeals for the Fourth Circuit.
The RICI Center is a registered 501(c)(3) nonprofit that brings Professor Sautter’s scholarly agenda to life, advancing financial and corporate governance literacy education and research to ensure retail investors have a meaningful voice in corporate America.
Area of expertise
- Corporate Governance
- Mergers and Acquisitions
- Transactional Law
Education
B.S., summa cum laude, Florida State University
J.D., summa cum laude, Villanova University School of Law
Books
MERGERS AND ACQUISITIONS LAW (Hornbook Series) (West Academic Publishing 2018) (with Franklin A. Gevurtz)
Articles
Corporate Disenfranchisement, 17 U.C. Irvine Law Review (forthcoming 2027) (with Sergio Alberto Gramitto Ricci)
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The Shareholder Democracy Lie, 78 Florida Law Review (forthcoming 2026) (with Sergio Alberto Gramitto Ricci and Daniel J.H. Greenwood)
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Democratization of the Private Markets?, 26 Transactions: The Tennessee Journal of Business Law 67 (2025) (with Colleen Baker)
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Corporate Governance Through Social Media, 75 Florida Law Review Forum 89 (2024)
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Wireless Investors & Apathy Obsolescence, 100 Washington University Law Review 1653 (2023) (with Sergio Alberto Gramitto Ricci)
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The Corporate Forum, 102 Boston University Law Review 1861 (2022) (with Sergio Alberto Gramitto Ricci)
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The Educated Retail Investor: A Response to “Regulating Democratized Investing,” 83 Ohio State Law Journal Online 205 (2022) (with Sergio Alberto Gramitto Ricci)
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The Wireless Investors Movement, University of Chicago Business Law Review: Online Edition (2022) (with Sergio Alberto Gramitto Ricci)
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Corporate Governance Gaming: The Collective Power of Retail Investors, 22 Nevada Law Journal 51 (2021) (with Sergio Alberto Gramitto Ricci)
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Transaction Cost Economics & MAEs: The Dealmaker’s Crystal Ball, 89 Fordham L.aw Review Online 41 (2021)
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Delaware as Deal Arbiter, 77 Washington & Lee Law Review 1269 (2020)
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The Golden Ratio of Corporate Deal-Making, 41 Journal of Corporation Law 817 (2016)
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Fleecing the Family Jewels, 90 Tulane Law Review 545 (2016)
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Auction Theory & Standstill Agreements: Dealing with Friends and Foes in a Sale of Corporate Control, 64 Case Western Reserve Law Review 521 (2013)
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Lock-Up Creep, 38 Journal of Corporation Law 681 (2013) (with Steven M. Davidoff)
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Promises Made to be Broken? Standstill Agreements in Change of Control Transactions, 37 Delaware Journal of Corporate Law 929 (2013)
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Rethinking Contractual Limits on Fiduciary Duties, 38 Florida State University Law Review 55 (2010)
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Shopping During Extended Store Hours: From No Shops to Go-Shops – the Development, Effectiveness, and Implications of Go-Shop Provisions in Change of Control Transactions, 73 Brooklyn Law Review 525 (2008)
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Matter of Class: The Impact of Brown v. McLean on Employee Discharge Cases, 46 Villanova University Law Review 421 (2001)
PDF
Book chapters
Compliance for Stakeholders and Reputation, in ELGAR CONCISE ENCYCLOPEDIA OF COMPLIANCE LAW (James Fanto, ed.) (Edward Elgar Publishing) (forthcoming 2026) (with Sergio Alberto Gramitto Ricci)
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Harnessing the Collective Power of Retail Investors, in A RESEARCH AGENDA FOR CORPORATE LAW (Christopher M. Bruner & Marc Moore, eds.) (Edward Elgar Publishing 2023) (with Sergio Alberto Gramitto Ricci)
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Rewritten Revlon, Inc. v. MacAndrews & Forbes Holdings, Inc., in FEMINIST JUDGEMENTS: CORPORATE LAW REWRITTEN (Anne Choike, Usha R. Rodrigues, & Kelli Alces Williams, eds.) (Cambridge University Press 2023)
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Tender Offers and Disclosure: The History and Future of the Williams Act, in RESEARCH HANDBOOK ON MERGERS AND AQUISITIONS (Claire Hill & Steven Davidoff Solomon, eds.) (Edward Elgar Publishing 2016)
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Other publications
A Paradigm for Understanding Shareholder Disenfranchisement, The CLS Blue Sky Blog (with Sergio Alberto Gramitto Ricci) (Feb. 23, 2026)
Before Finfluencers Were Iconic Shareholders The Hitchhiker's Guide to Corporate Governance (2026) (with Sergio Alberto Gramitto Ricci)
Office Hours on Mergers and Acquisitions Study Aid West Academic (2026)
Compliance for Stakeholders and Reputation, Elgar Concise Elgar Concise Encyclopedia of Compliance Law (James Fanto, ed.) (Edward Elgar Publishing, forthcoming 2025) (with Sergio Alberto Gramitto Ricci)
When Democracy Fails: From Ancient Athens to Modern Shareholder Meetings, ECGI Blog (2025)
Compliance and Reputation in the Era of Interconnected Stakeholders, The CLS Blue Sky Blog (2025) (with Sergio Alberto Gramitto Ricci)
Media
Bloomberg Law, commentary: Exxon Texas Move Should Prompt Shareholders to Read the Fine Print, (March, 2026)
Financial Times, quoted in: ‘Y’all Street’: Texas makes its pitch to corporate America, (March, 2026)
Bloomberg Law, quoted in: Texas Corporate Reforms Silence Retail Shareholders—By Design, (January, 2026)
Bloomberg Law, quoted in: Delaware Split on Sexual Harassment Liability Opens New Debate, (January 2026)
ProMarket, quoted in Why the Controversy Behind ExxonMobil’s New Retail Voting Program? (November 2025)
Columbia Journalism Review, quoted in The Fight for Free Speech Goes Corporate (July 2025)
Columbia Journalism Review, quoted in Paramount Will Pay President Trump $16 Million to Settle 60 Minutes Lawsuit (July 2025)
Bite-Sized Business Law, Interview, A Corporate Government (podcast) (July 2025)
Business Scholarship, Interview, Sergio Alberto Gramitto Ricci and Christina Sautter on Shareholder Democracy (podcast) (June 2025)
ProMarket, Op-Ed, Delaware’s SB21 Continues 150 Years of Corporate Power and Regulatory Capture (June 2025)
PeopleNewspapers, Interview, Don’t Sell Your Stocks Says SMU Investment Law Expert (May 2025)
NBC 5 DFW, Interview, Lone Star Politics (April 2025)
Marketplace, Interview, Are mergers and acquisitions about to heat up again? (podcast) (December 2024)
Bite-Sized Business Law, Interview, Wireless Investors (podcast) (December 2024)
Marketplace, quoted in Why mergers and acquisitions are an economic indicator (November 2024)
Bloomberg, quoted in Elon Says He Got His Money (June 2024)
The Atlantic, quoted in Elon Musk’s Big Tesla Campaign (June 2024)
Fortune, quoted in Tesla investors may vote to give Elon Musk his $56 billion payday, but that doesn’t mean he’ll get the money (June 2024)
Bloomberg, quoted in Tesla’s Investor Vote on Elon Musk’s Pay Package Is About More Than His Money (June 2024)
Forbes, quoted in Did Keith Gill AKA Roaring Kitty and His GameStop Antics Violate Securities Laws? (June 2024)
Axios, quoted in Tesla ramps up pay proposal push with retail investors (May 2024)
NPR Marketplace Podcast, Interview, Playing an economic guessing game (April 2024)
Yahoo Finance, quoted in Elon Musk wants to take away Delaware’s incorporation crown. It won't be easy. (February 2024)
Financial Times, quoted in Texas is throwing down a legal challenge to Delaware (January 2024)
SMU Perspectives, Interview, How retail investor 'superpowers' can be sequel to "Dumb Money" film (January 2024)
IR Magazine The Ticker Podcast, Interview, IR triumphs of 2023: What it takes to win an IR Magazine Award (December 2023)
Fox Business, Op-Ed, New Hollywood blockbuster depicts a triumph for savvy retail investors but it's just the beginning (September 2023) (with Sergio Alberto Gramitto Ricci)
Unusual Whales Podcast, Interview, Exploring Activist Investing and Collective Action in the Markets (September 2023)
The Daily Beast, quoted in Investors Got Creamed on Bed Bath & Beyond, But This Billionaire Cashed In (April 2023)
Stakeholder Labs, Interview, Introduction to ‘Wireless Investors’ 101 with Professors Christina Sautter and Sergio Alberto Gramitto Ricci (April 2023)
Bloomberg Law, quoted in Sidley Life Sciences Venture Pays With $700 Million Practice (October 2022)
USA Today, quoted in Elon Musk isn’t the first to walk away from a deal. Here’s how similar cases have ended. (July 2022)
VoiceAmerica, Interview, Meme Stocks and Retail Investors (Getting Common Radio Show) (March 2022)
Forbes, featured in We Are All ‘stakeholderists’ Now: Looks Like The Debate Over The Purpose Of Corporations Might Be Settled (March 2022)
Bloomberg Tax, quoted in PwC Hunting for Tech M&A, Sees ESG as $1 Billion Opportunity (November 2021)
Forbes, featured in Trump’s Social Media Platform To Merge With SPAC: An Insider’s Look At SPACs (October 2021)