LOUISVILLE, KY (WAVE) - After a seven month battle, a judge has ruled the University of Louisville Foundation will not have to pay the university’s former presidents legal fees and costs.
The Foundation brought a lawsuit against former University of Louisville president James Ramsey, and other former foundation officials in April for alleged fraud and financial mismanagement.
The lawsuit stated Ramsey and other former Foundation officials conspired to divert millions of dollars from the Foundation’s endowment into ventures between 2008 to 2016.
Andy Campbell, the UofL Foundation’s attorney sent WAVE 3 News the following statement:
"We are pleased with today’s ruling regarding responsibility for defendants’ legal fees.
Under no circumstances should the University of Louisville Foundation be required to spend donor money on the legal fees for people whose mismanagement of the Foundation triggered the legal action in the first place. Donors give contributions for academics, not to defend people in court who squandered millions and put the Foundation in a deep reputational and financial hole.
We look forward to presenting our full case to the court."