Breaking News: A Massachusetts judge has struck down a state Attorney General’s attempt to freeze Harvard University’s endowment funds.
A Massachusetts judge today ruled unconstitutional an attempt by the state’s Attorney General, Andrea Campbell, to place a freeze on a portion of Harvard University’s $50.9 billion endowment. The Attorney General sought the freeze in connection with an ongoing investigation into allegations of inadequate financial support for students.
The ruling, delivered by Suffolk Superior Court Judge Kenneth Salinger, dismisses the Attorney General’s petition, finding it exceeded her statutory authority. Ms Campbell had argued that Harvard was obligated to use more of its endowment to aid students facing financial hardship and to address allegations of discriminatory practices. The petition targeted approximately $400 million of the university’s endowment.
The judge’s decision centres on the legal contention that the Attorney General does not possess the power to unilaterally freeze university endowment funds as a means of pressure during an investigation. The Jerusalem Post notes this ruling comes amid increased scrutiny of elite universities’ financial holdings and potential bias in admissions and scholarship allocation. The Daily Mail reports the judge criticised the Attorney General’s move as a “novel” and “extraordinary” overreach.
Harvard’s President, Claudine Gay, welcomed the ruling, stating that it affirms the university’s autonomy. Supporters of the Attorney General’s initial action had argued Harvard had a moral obligation to utilise more of its considerable wealth to support its students, especially in light of its significant financial reserves. Critics contend the move was a politically motivated attempt to interfere with the university.
The Attorney General’s office has indicated it is reviewing the ruling and considering all available legal options, including an appeal. The outcome of any such appeal remains uncertain.
Sources: The Daily Mail, The Jerusalem Post, Fox News, The Sun, The Daily Telegraph.
