Among its most insidious features, notes Ira Stoll, is a $2.5 million cy pres fund earmarked for “corporate governance programs at 12 universities across the country,” and which will predictably encourage such academic programs, at law schools and elsewhere, to align themselves further with the agenda of the plaintiff’s securities bar and against the interest of actual shareholders at companies like Apple. I’ve got much more about cy pres law school slush funds in Schools for Misrule, forthcoming. [Future of Capitalism; Jim at PoL]
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