The University of California accused AOL/Time Warner of "misrepresenting its sales, revenues and subscriber numbers."
Consequently, UC's retirement and endowment funds lost more than $240 million when lies about AOL caused the stock to take a dive after its merger with Time-Warner.
UC holds around $555 million worth of stock in Time-Warner.
The UC regents will vote at its March 14-15 meeting on whether to approve a $246 settlement against the Time-Warner Corporation.
If the settlement goes through, UC will put the one quarter of a billion dollars back into its retirement and endowment fund of more than $71 billion.
Retirement funds should be set aside. But, I don't understand why schools have 10s of billions of dollars in endowments and still require parents and kids to pay through the nose to attend a UC school.
What's up with that?
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