US EditionAverett suit against investment firm ordered to arbitration over depleted endowment
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Averett suit against investment firm ordered to arbitration over depleted endowment
Averett University’s dispute with its former investment firm will be addressed in arbitration, a federal judge ordered Wednesday. The private university in Danville sued investing firm Global Strategic Investment Solutions and the school’s former chief financial officer in March. The suit claimed that the two colluded to hide budget deficits and drain Averett’s endowment to cover the university’s shortfall. GSIS responded to the lawsuit in June,…
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