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theu4lyfe

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What if the BOT was sued for breach of fiduciary duties?

Even if frivolous, the suit itself would grab headlines and humiliate the University. The lawsuit would provide a forum to publish EVERYTHING (facts, stats, subjective opinions) in the Complaint and it would be public record that could/would be published in every media outlet.

Don't the Board of Trustees have fiduciary obligations to maintain and protect the interests of the trust/University to the fullest extent possible? I feel like retaining/maintaining Al Golden is grounds for breach of the fiduciary duties by proceeding with actual knowledge that it is harming the University's revenue.
 
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You guys aren't shareholders to whom a fiduciary duty is owed. It's NOT an idiotic question, but no duty flows to you/us.
 
Canesfreak said:
You guys aren't shareholders to whom a fiduciary duty is owed. It's NOT an idiotic question, but no duty flows to you/us.
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Alumni wouldn't have standing? Why? Who do you think can bring the case? Who is a SH in a non-profit university?
 
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I'm not sure if a "fiduciary duty" flows to alumni. Students, yes. If it were a corporation the correct action would really be a derivative suit of sorts, forcing the board to take action, but that is even further attenuated in this scenario. It is clever.
 
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Canesfreak said:
I'm not sure if a "fiduciary duty" flows to alumni. Students, yes. If it were a corporation the correct action would really be a derivative suit of sorts, forcing the board to take action, but that is even further attenuated in this scenario. It is clever.
Click to expand...

A Non-profit University is a completely different animal. I think it would apply to students and alumni (via donations). Even if the students could just bring the COA it is enough.
 
Exactly. It is not the merit of the suit; instead, it is the suit itself.

Who cares if it gets dismissed at the pleading stage?

Once it is filed, it will be picked up by ESPN, CNN, CBS, FOX, et al.. :)

Consigliere said:
Canesfreak said:
I'm not sure if a "fiduciary duty" flows to alumni. Students, yes. If it were a corporation the correct action would really be a derivative suit of sorts, forcing the board to take action, but that is even further attenuated in this scenario. It is clever.
Click to expand...

A Non-profit University is a completely different animal. I think it would apply to students and alumni (via donations). Even if the students could just bring the COA it is enough.
Click to expand...
 
theu4lyfe said:
Exactly. It is not the merit of the suit; instead, it is the suit itself.

Who cares if it gets dismissed at the pleading stage?

Once it is filed, it will be picked up by ESPN, CNN, CBS, FOX, et al.. :)

Consigliere said:
Canesfreak said:
I'm not sure if a "fiduciary duty" flows to alumni. Students, yes. If it were a corporation the correct action would really be a derivative suit of sorts, forcing the board to take action, but that is even further attenuated in this scenario. It is clever.
Click to expand...

A Non-profit University is a completely different animal. I think it would apply to students and alumni (via donations). Even if the students could just bring the COA it is enough.
Click to expand...
Click to expand...

I think it is clever and would get a lot of recognition for the cause.
 
It's best to get the word out to as many as possible about the idiocy of some of this fanbase.
 
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Canesfreak said:
You guys aren't shareholders to whom a fiduciary duty is owed. It's NOT an idiotic question, but no duty flows to you/us.
Click to expand...

UM does get public money and most of us have put $$$$ out is various ways. It would probably be first blush type of suit but certainly would cause a stir. There are numerous hot claims that can be made as failures. We could drag up Donna's involvement with Nevin and BOT's failure to take any action. The NCAA finding of Institutional failure would make nice little piece for probative evidence. The contract extension offers many chances to pull administration finger nails. The discovery process alone would drive UM crazy. Their private status would be meaningless and everything could be laid bare. The standing to bring the suit would be a problem but we could juice it up as some form of Declaratory Action asking court to issue injunction prohibiting certain actions until the court can make determination. You need an attorney who likes creative litigation.
 
Consig - I handle white collar and securities (SEC) defense, so you may be correct. If it survives a motion to dismiss on the standing issue, it would be pretty interesting (imagine what discovery would turn up - emails between BOT and admin, etc). In any case, filing the case itself would likely bring an unbelievable amount of attention to the issues. Imagine the factual section of the complaint?
 
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Gatorhater said:
Canesfreak said:
You guys aren't shareholders to whom a fiduciary duty is owed. It's NOT an idiotic question, but no duty flows to you/us.
Click to expand...

UM does get public money and most of us have put $$$$ out is various ways. It would probably be first blush type of suit but certainly would cause a stir. There are numerous hot claims that can be made as failures. We could drag up Donna's involvement with Nevin and BOT's failure to take any action. The NCAA finding of Institutional failure would make nice little piece for probative evidence. The contract extension offers many chances to pull administration finger nails. The discovery process alone would drive UM crazy. Their private status would be meaningless and everything could be laid bare. The standing to bring the suit would be a problem but we could juice it up as some form of Declaratory Action asking court to issue injunction prohibiting certain actions until the court can make determination. You need an attorney who likes creative litigation.
Click to expand...

Wouldn't that be the point.
 
What about Hurricane Club donors who are non-alums??


If my $100 - $200 a year gets me any level of standing, I'll sign onto that bad boy in a heartbeat.
 
Canesfreak said:
Consig - I handle white collar and securities (SEC) defense, so you may be correct. If it survives a motion to dismiss on the standing issue, it would be pretty interesting (imagine what discovery would turn up - emails between BOT and admin, etc). In any case, filing the case itself would likely bring an unbelievable amount of attention to the issues. Imagine the factual section of the complaint?
Click to expand...

What would be the specific injury suffered? It can't be a general wrong or random fan butthurt. And Board of Trustees enjoy the protections of business judgment as any other board.
 
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