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University gains control over Robertson endowment in settlement
Published: Thursday, December 11th, 2008
The University and members of the Robertson family have agreed to settle the largest donor-intent lawsuit in U.S. history, both parties announced Wednesday. Under the terms of the agreement, the Robertson Foundation will be dissolved and its assets transferred ...(back to the article)
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FINALLY!!
And all it cost us was a measily $100 million to buy our way out of the lawsuit!
Every time Princeton gives back a dollar it abused, an angel gets its wings
Is there any report detailing what Princeton's own legal expenses have been in connection with this matter?
If the Robertsons spent $40 million, I would expect that Princeton spent that much or more.
I call total BS on the market downturn having no effect on the University's decision to settle. Endowment performance is based on change in size, so the extra $700 MM transferred into the endowment goes a long way towards masking the current year's undoubtedly horrific investment losses in the endowment fund