Kentucky Center for Investigative Reporting (https://kycir.org/tag/university-of-louisville/)
The Courier-Journal argued that U of L’s board of trustees routinely violated state law by allowing members to participate remotely without disclosing to the public that the meeting will be conducted via teleconference.
The University of Louisville is considering suing its own foundation in the wake of a damaging audit and months of talk about recouping misspent money, according to leaders at the U of L Foundation. Earl Reed III, chairman of a U of L Foundation subcommittee, said in an affidavit provided to the Kentucky Center for Investigative Reporting that the foundation’s threat of being sued by U of L “is substantial” but could be avoided if the two entities reach agreeable terms.
The foundation created the affidavit in response to an open meetings complaint from KyCIR about two executive session meetings held on Oct. 26. The complaint argued that state law requires a specific and substantial threat of a lawsuit to warrant a secret meeting. Interim U of L Foundation executive director Keith Sherman told KyCIR that the closed sessions were legal and proper because board members were discussing a substantial and specific legal threat from U of L.
The affidavit marks the first confirmation of a specific lawsuit possibility after months of vague discussion about recovering millions lost from the foundation’s endowment.
The University of Louisville Foundation’s board on Thursday approved an agreement with the university meant to keep the foundation free from politics and “disproportionate influence.”
The University of Louisville released an email Tuesday evening containing new details on the erasure of former president James Ramsey’s computer hard drive.
The University of Louisville and its foundation could see their credit ratings pummeled as the basketball scandal’s fallout continues. This week, the bond rating agency Moody’s Investors Service announced the university is under review for a possible downgrade, citing “recent criminal allegations against senior athletic personnel” and concerns over the university’s finances. Moody’s already downgraded U of L a notch last year to A1, citing instability in leadership and financial concerns. Investors and lenders use the ratings to determine U of L’s credit worthiness. The agency warned in its announcement that U of L’s rating could drop several more notches after this review, which will consider the lack of permanent leadership and whether Louisville is maintaining the confidence of donors and stakeholders.
The $160 million sponsorship deal between the University of Louisville and Adidas could be in jeopardy if the NCAA basketball scandal forces big losses on the court.
The University of Louisville hit a stumbling block in its attempted turnaround Monday when a legislative committee rejected its plan to spend $1.25 million on outside lawyers.
A small, exclusive group of University of Louisville trustees will decide whether to sue, settle or take no action to recover money misspent at the U of L Foundation.
Two local philanthropic groups will pay most of the costs of the taxpayer-funded, $2.2 million forensic investigation of U of L’s troubled nonprofit organization. The move follows closely on the heels of a KyCIR investigation.
The U.S. Department of Justice may be considering a crackdown on universities that employ affirmative action in admissions decisions. What would that mean for Kentucky?