Cary Martin Shelby Associate Professor of Law
Office: 446 Lewis Hall
Cary Martin Shelby
Area of Expertise
Business Law, Financial Regulation
BS, University of Illinois
JD, Northwestern University
LLM, University of Wisconsin
Cary Martin Shelby joined W&L Law from DePaul University College of Law in 2019. She specializes in corporate and securities law and teaches a variety of courses such as Contracts, Business Associations, Securities Regulation, Corporate Finance, Business Fundamentals for Lawyers, and a seminar on Investment Funds.
Her research generally encompasses regulatory issues related to hedge funds and other pooled investment vehicles. She has utilized a range of theoretical frameworks to examine the extent to which the regulation of investment funds serves as a mechanism to perpetuate wealth inequality and other injustices. It has been cited by Forbes, The Brookings Institution, and an array of other publications. She has published articles in The California Law Review (forthcoming), The Business Lawyer, Boston College Law Review, Washington and Lee Law Review (co-authored with Steven Ramirez and Kristin Johnson), SMU Law Review, among other journals and periodicals. She is also the founder and operator of the "Daughters Mosaic Blog" (https://www.professorcaryshelby.com/daughtersmosaicblog) which includes periodic postings related to the ways in which her experiences as a former foster youth have shaped her career trajectory, her research, and other related topics.
In terms of honors and awards, Shelby received the DePaul College of Law Excellence in Teaching Award in May 2016 and the DePaul University Excellence in Teaching Award in September 2018. She also received the Ethan Allen Fellowship from W&L Law for scholarly excellence in June 2020.
Shelby received her B.S. in Finance from the University of Illinois at Urbana-Champaign, and her J.D. from Northwestern University School of Law. She then practiced law in the Investment Funds, Advisers and Derivatives Group with Sidley Austin LLP for close to four years. As an associate in this group, she represented clients in regulatory and corporate matters involving hedge funds, commodity pools and derivatives trading. After leaving Sidley, Shelby completed the William H. Hastie Fellowship at the University of Wisconsin Law School, which is a competitive two-year LL.M. program designed to prepare its candidates for a career in law academia.