Ex-University of Louisville head wants lawsuit dismissed
LOUISVILLE, Ky. (AP) — The former president of the University of Louisville wants the court to dismiss the school’s lawsuit against him that alleges he mishandled millions of dollars.
The Courier Journal reports James Ramsey filed a motion in court Wednesday seeking the dismissal of the school’s claims. His motion also says the school can provide more detailed allegations instead of dismissal.
An April lawsuit by the university and its foundation alleges Ramsey and several other people knowingly caused the foundation to spend endowment funds at an unsustainable rate. It also alleges the defendants diverted some of the funds toward ventures that had little chance of repayment.
Ramsey argues in his motion that the school’s case offers “stale” allegations and argues that this “far-too-late-in-the-day second-guessing of legitimate business judgments is woefully inadequate.”
Information from: Courier Journal, http://www.courier-journal.com