LOUISVILLE, Ky. (LEX 18) – The University of Louisville has filed a lawsuit against former President James Ramsey and several former members of the foundation.
The suit alleges that during his tenure, former President Ramsey and the board diverted millions from the foundation endowment and "excessively compensated" themselves at the detriment of the organization.
The suit was jointly filed by the Board of Trustees and the foundation, which has all new members in light of a forensic audit.
UofL is seeking punitive damages in hopes of recouping some of the cost.
