Princeton University is being sued by the heirs of Charles & Marie Robertson for return of endowment monies gifted to Princeton in 1961. The heirs are claiming the University is not using funds as directed by the Robertson's to expand and upgrade the Woodrow Wilson Graduate studies program which trains future spies and diplomats. If Princeton loses this case the result is likely to be an onslaught of lawsuits by activist conservative groups seeking the return of endowment monies across America.
In 1961 the Charles S. and Marie Robertson family made a donation of 700,000 shares of Great Atlantic & Pacific Tea Co. stock worth approximately 35 million dollars to Princeton University and at the time they wanted to remain anonymous. The money was to be directed to Princeton's Woodrow Wilson Graduate studies program. The original endowment has ballooned to about 750 million today. The Robertsons wanted it to expand upon Princeton's already impressive diplomatic studies program. They envisioned Princeton churning out voluminous numbers of spies and diplomats. Marie Robertson died in 1972 at the age of 56 and Charles S. Robertson passed away in 1981 at the age of 75. On 17 July 2002 the heirs of Charles S. Robertson filed suit against Princeton claiming that funds were misused to among other charges build Wallace Hall on the Princeton campus which houses the Sociology Department, a Center for Child Well Bring, and the office of Population Research. In 2001, Princeton also decided to fire the Essex Investment Management company, which had been overseeing the Robertson monies without notifying the heirs of Charles Robertson and folded the monies into their endowment fund.
Claiming that Princeton was diverting endowment funds for non-diplomatic study purposes, the heirs of Charles Robertson filed suit to reclaim the endowment monies for the family claiming Princeton had violated the terms of Charles & Marie Robertson's original gift. The motions for summary judgement are to be held the 28th and 29th of November 2006.
What makes this controversy so dangerous to academia and free thought on campuses across America is that Conservatives (see National Review 29 September 2003 issue) are claiming University and College endowments across America have been "diverted" to the great harm of conservative causes. It should be noted that nothing in the original Robertson gift ever contained a clause linking it to conservative causes.
Conservative legal groups are ready to pounce on Universities across America if the Heirs of Charles Robertson win this case. The financial health and well being of endowments at America's Universities and Colleges all across America will be threatened by these Conservative legal groups who will threaten lawsuits if monies are not used in ways acceptable to activist movement conservatives.
This is a true threat to academic autonomy and freedom in America. Everyone in Kosland should be very concerned about the results of this ongoing litigation.
Here is a link to Princeton University's legal defense posted by the University this afternoon to anyone desiring a more detailed account of the lawsuit than outlined above.
http://www.princeton.edu/...
walja