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Louisville Claimed $80 Million in Damages, May Get Just $800K

June 11, 2021
 
 

The University of Louisville argued in a 2018 lawsuit that former president James Ramsey and four senior aides cost the university's endowment $80 million through excessive spending -- including excessive executive compensation -- and bad investments, but a mediator valued the case at only $800,000 in January of this year, a conclusion that would award the university just 1 percent of what it sought, The Courier Journal reported Thursday.

Court records show that the university, which has spent at least $5.7 million on the case, has fought to keep the mediated amount secret. The parties are in dispute about whether a settlement deal was reached, with the university maintaining that a settlement agreement was never finalized and that litigation remains ongoing.

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