Princeton settles suit, keeps control
December 11, 2008
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Princeton University will keep control of most of an estimated $600 million fund as it settles a suit by descendants of the money's original donor, who said the school strayed from their relatives' original intent for the gift.
Charles and Marie Robertson gave $35 million in 1961 in a gift their heirs maintain was intended to educate graduate students for careers in government. The school will pay $40 million in legal fees and donate $50 millionfor a new foundation that will hew closer to the family's goals.
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