Word: templeton
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Thursday’s suit, filed in federal district court in Maryland, comes in response to Templeton Asset Management’s initial suit filed on Jan. 29. That lawsuit alleges that the University was employing “strong-arm investment tactics” to further a “self-serving, short-term agenda” potentially at the expense of other investors in the funds...
...Templeton claims that long-term shareholders will be hurt if Harvard pursues short-term increases in share price. Such increases could be acheived, among other ways, by liquidating the fund...
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...
...urged terminating Templeton’s management because Templeton has, according to HMC, “done remarkably little over the years to enhance shareholder value...
...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...