Word: hmc
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Dates: during 2000-2009
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Filed by the Harvard Management Company (HMC), which manages Harvard’s $18 billion endowment, Thursday’s suit challenges fund manager J. Mark Mobius’ handling of the China World and Dragon funds. Harvard holds a combined $115 million in these funds and is the largest minority shareholder in both...
HMC’s lawsuit said that Templeton had made “materially false and misleading statements” while Templeton argues the same against HMC. HMC also alleges that Templeton is trying to retain power over the fund by averting a “full and fair shareholder vote” on replacing Templeton as the funds’ manager...
...HMC has urged terminating Templeton’s management because Templeton has, according to HMC, “done remarkably little over the years to enhance shareholder value...
...HMC said a vote would allow shareholders to pass judgement on Templeton’s management...
...said let’s put it to the shareholders,” said Jeff Larson, senior vice president of international equity at HMC. “Templeton, in their lawsuit, has couched it like it’s some kind of illegal action...