The Harvard Lawsuit—Not Just a Rumor?
The circumstantial evidence seems to be mounting that the class action lawsuit allegedly being prepared by a group of Harvard alumni isn't just a rumor. While I'm still shaky on the specifics, the legal standing issues will involve donors and the question of how Harvard must spend its money in order to retain its tax-exempt status....
How much money is at stake? Hard to say, because we don't know what Harvard might originally have been able to settle the Shleifer matter for. But still, it seems a safe bet that the amount the litigants would seek to recover
from individual members of the Corporation would be in the eight figures....
If this lawsuit happened, it would rock the Harvard community and attract national attention, because it would surely have implications for other universities. It would also bring much-needed attention to the Shleifer scandal.
Perhaps I'm going to have to write a sequel to
Harvard Rules.....
