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Lawsuit Breakdown: AG vs. Stevens

As extensive and as thorough of a breakdown between the two lawsuits between the Attorney General and Stevens Institute of Technology as you’ll find anywhere courtesy of Professor Wharton as he published earlier, hope he doesn’t mind be re-publishing his stuff here.

I haven’t read both the suits yet but I figure if Wharton has summarized it this well, there is very little chance that I’ll have more to add on it. Read this well and educate yourself.

The sources can be found at the bottom of the post.

Executive Summary

The State of NJ through the Attorney General is charging that Hal and Babbio acted outside of their responsibilities as president and Board members (Babbio being chair and Hal serving on the Board as well). The AG questions the legality of the BoT creating selective, if not secretive committees under the BoT and they’re not complying to inform the full BoT of the financial issues of the college and the compensations and benefits package packages of Hal Reveche. These benefits include an excessive salary for Hal (done under illegal practices, through a special committee and against the college’s bylaws) and low interest loans, car allowances and other benefits. In addition, that the Endowment, scholarships and other funds were misused and misapplied for unrelated finances and that the accounting books were “mismanaged.”

Synopsis:

-That Hal has expansive powers as president and voting member of the Board of Trustees (conflict of interests concerns), but this was due to the BoT agreeing to expand his powers and that he’s served as member of financially related committees for the college and that he exercised further control over subcommittees related to employee related matters, including professors (ah, somewhat unusual for a college prez btw)

-That Babbio as chairman of the BoT allowed under his watch for the BoT and its committees to engage in misconduct, including their failing to inform and disclose to the Board his and the president’s actions. Among these actions included “aggressively” expanding and modifying the college’s research activities, curricula and interfere in student body and faculty concerns. Among these, the Stevens Growth Plan which the president and the chairman “violated” donors and the Board’s spending restrictions. This was, against the “scope” of their powers.

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Action Filed by the Stevens’ Board of Trustees

[Edit] If you are interested in seeing the lawsuit filed by the Attorney General click here – [download id=”6″]. Thanks to Professor Wharton again for the primary source. [/Edit]

I have a feeling Stevens doesn’t want this to be a prolonged, dragged out process as they have already highlighted in their briefing earlier for a private, confidential arbitration — which would be a huge win for the Institution but makes you wonder what they have to hide? It could just be a case of hiding bad PR for a private school that has developed international reaches over the past decade and the longer this is out in the media, the more it hurts their standing.

Anyways, here is an email that was just sent out the entire Stevens’ community regarding the legal action that was filed by the Stevens Institute of Technology Board of Trustees. Stevens definitely tries to make a very legitimate case that the Attorney General has overstepped her boundaries but is that enough justification to try and cover up their financial misappropriation of endowment funds and excessive compensation to people like President Hal Raveche.

TO: Students, Faculty, Alumni and Staff
Stevens Institute of Technology

FROM: The Board of Trustees

RE: Action Filed by the Board of Trustees
Against the Attorney General of the State of New Jersey

DATE: September 17, 2009

The Board of Trustees of Stevens Institute of Technology yesterday filed legal action in the Superior Court of New Jersey to enjoin New Jersey Attorney General Anne Milgram from imposing unreasonable and unwarranted demands on the Board with respect to the independence and governance of the Institute.

The Board did not take this action lightly. After lengthy discussions with the Institute’s attorneys, the Board came to the unanimous conclusion that the Attorney General had substantially overstepped her authority demanding that her judgment be substituted for that of the men and women of the Board.

The Board concluded that the Attorney General’s demands had to be vigorously contested to protect the best interests of the Institute.

It was the Board’s unanimous belief that to allow the Attorney General to unilaterally impose herself on matters concerning the future of the Institute, and to allow her to substitute her judgment for that of the members of the Board, would be a clear violation of the fiduciary, moral, ethical and legal obligations that the trustees have to the Institute, its students, faculty, staff and alumni.

We have posted our legal filing and the announcement of our actions on the web at www.stevens.edu/sit/board-of-trustees-statement.cfm. Of course, we will keep you abreast of all important developments as they occur.

The Board asks that you keep an open mind in the debate in the public arena that is inevitable and to check back from time to time at our web site for updates on information we can release about the progress of the proceedings.

The Board has resolved not to let this matter become a distraction from the remarkable success that Stevens has enjoyed in its 140-year history. We hope that it will not detract from continued progress at one of America’s leading research and technological universities.

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Stevens Makes Senior Year Interesting

[Edit] – Here are the lawsuit filing papers by Stevens and the Administration. [download id=”5″]. I love how the following line appears in the first few pages describing Stevens. “It has forged relationships with foreign educational institutes which span the world, and it has become recognized as a significant partner to the United States government in the war on terrorism.” Nothing like implying a little fear of terrorism in lawsuits to try win a case. [/Edit]

It has forged relationships with
foreign educational institutes which span the world, and it has
become recognized as a significant partner to the United States
government in the war on terrorism.

I really wonder how much this is political gamesmanship but you have to think this was a long time coming but the financial problems Stevens Institute of Technology has had in the past. It’s a little ironic this gets announced on the day that Stevens held a humanities forum on the corruption of Jersey politicians and politics.

Plenty of angry sentiments amongst the students from what I have gathered so far but I can’t say it’s all one sided. Some people definitely don’t like the timing of this announcement with an election coming up in about a month or so but we’ll see what kind of impact this really ends up having when all is said and done.

I wouldn’t expect this to be a speedy process but this certainly livens up Senior year as if Hoboken didn’t already have enough going on. Credit to Professor Wharton for linking the article – I’ve attached the entire piece but only partially available on the main page. Click the headline to read the entire article.

Stevens Institute of Technology makes pre-emptive move as attorney general prepares to sue the school

Attorney General Anne Milgram plans to file a lawsuit Thursday against Stevens Institute of Technology, charging the school with fiscal impropriety and seeking to remove its top two leaders, a spokesman for her office said tonight.

Spokesman David Wald said the state’s two-year investigation also discovered misappropriation of endowment funds and excessive compensation.

Seeking to pre-empt any damage to the Hoboken school’s reputation, Stevens filed its own lawsuit against Milgram today, according to court papers. The school’s suit asks for any case to be pursued through confidential arbitration.

The lawsuit also accuses the attorney general of overstepping her authority by threatening legal action against the private school if it did not alter its business practices.

Milgram met with Stevens’ board of trustees on Sept. 2 to outline her case. According to the school’s lawsuit, she said she was planning “devastating” legal action that would raise “accreditation and other issues,” as well as seek leadership changes and independent oversight.

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Want To Help Special Children In Need?

Usually I don’t post requests like this but it seems like a worthwhile cause from my friend Alex so I decided to put it up. Take a quick read through the email and then my short description afterwards to see if you are interested in a round of golf to help out a charitable cause.

My group is having a golf outing on Monday Sept 28, 2009. It’s $160 per person, or $100 if people just want to donate money through a sponsorship (which is displayed at each hole). If you know people who would want to play, or even better sponsor a hole, I’d really appreciate it. I was thinking maybe your past co-op companies to sponsor holes or old co-workers or alumni who’d want to play/ give money to charity.

The group is called The American Special Children’s Pilgrimage Group — ASCPG — which is self-described as a non-profit organization that unites children and young adults with special physical, mental or emotional needs with volunteer caregivers for an unforgettable week in Lourdes, France.

It is going to be an all day event with the date being set for Monday, September 28, 2009 but the timings are yet to be determined although I can confirm them for anyone who is interested in about a day or two. Breakfast, Dinner and beverages will be included from an Italian setting and from what I know / have been told, the Italians certainly know their food.

Honestly, this is the first time I have heard of this group but from what I can tell this group takes young adults with special needs to Lourdes, France for a week, where groups from the United Kingdom, Ireland, Croatia, amongst other countries also go at the same time. So if any of you are interested, let me know and I can either put you in contact with a person with more information or just read the attached flyer below to sign up for a round of golf and help out a charitable cause at the same time.

ASCPG – Website: (http://www.ascpg.org/)

Flyer: [download id=”4″]

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That’s Not Cool, Brett Favre

If you didn’t see it for yourself on ESPN, take a look at this filthy little crackback block that Brett Favre threw at the knees of Texans safety Eugene Wilson in the third quarter of the Monday Night preseason game.

A great job by the ESPN guys on calling the play dirty right away and I probably wouldn’t expect anything more to happen since a penalty was called on the play. Just giving me more ammo to not like Brett Favre more than I already don’t.

Well Done #4.

Yahoo! Sports: Brett Favre throws a dirty block at Eugene Wilson’s knees

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