Many MBA classes, such as those in accounting and finance, require students to examine securities filings to perform financial analyses of companies. Often, however, students are unaware of the vast amount of additional information that can be obtained from a company's securities filings and other public information. Much of this information directly relates to the legal concepts and risk management strategies taught in the graduate-level legal environment course that are often used by managers to facilitate growth and produce competitive advantage. The authors have created a pedagogical tool that requires the student to research, analyze, and utilize information available in securities filings more comprehensively than the review of corporate financial statements conducted in other MBA classes. After being assigned a Fortune 500 company to research, students are expected to critically examine Securities and Exchange Commission (SEC) filings, corporate bylaws, codes of conduct, and other public information to research legal risk, corporate governance issues, executive compensation, Sarbanes-Oxley Act of 2002 controls, proxy statements, employment policies and other issues related to the graduate-level legal environment course. The article first explains how this student-centered learning exercise, designed for use in the graduate legal environment course, can be utilized by MBA students in both a traditional and on-line graduate-level legal environment course. Specifically, the article describes how student groups can learn legal issues and concepts by researching primary source material throughout the course. After discussing the design of the project and assessing its effectiveness, the article describes how the project furthers the goals of the American Assembly of Collegiate Schools of Business (AACSB) for a graduate legal environment course curriculum. The article concludes with detailed instructions for the project in Appendix A that can be modified for use by faculty teaching any MBA legal environment course. (Contains 4 tables and 51 footnotes.)