December 11, 2008
Princeton to Pay $90-Million to Settle Dispute With Donors' Heirs
Princeton University will pay $50-million and almost as much in legal fees to foundations controlled by the heirs of a major donor to the institution, in a settlement that ends a closely watched lawsuit over how strictly colleges must adhere to a donor's wishes.
The bitter dispute centered on an endowment, known as the Robertson Foundation, that supports the university’s Woodrow Wilson School of Public and International Affairs.
The endowment, now worth more
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