May 31, 2007
$100-Million Foundation in Legal Dispute Will Be Split Into Two Funds
A three-year legal battle over a $100-million foundation has ended with two states splitting its assets, and the leader of the foundation, who was accused of squandering millions of dollars meant for charity, left in charge.
Charity regulators in Mississippi and Tennessee say they are pleased with the settlement because it avoids further legal wrangling and allows grant making to resume. But some observers of the case say that state officials gave up too much in dropping their pursuit
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