November 27, 2008
Nonprofit Endowments Consider Suing Investors in Response to Poor Market Returns
As many as five colleges or charitable foundations whose endowments have suffered significant investment losses or were unable to access money in their accounts in recent months are considering legal action against their brokers or investment managers, alleging mismanagement or misrepresentation of risk, says a New York-based securities lawyer.
Jacob H. Zamansky, who is leading the first of several lawsuits against the failed investment bank Bear Stearns, says the colleges and
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