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CUE's Lawsuit Against UC

July-August 2003

Charles Schwartz, a retired UC physics professor, has been a critic and personally appointed watch-dog of the University of California for many years. In the fall of 2002, CUE was approached by Professor Schwartz to join him in a public disclosure lawsuit against the Regents of the University of California. The lawsuit was filed April 1, 2003 seeking minutes and tapes from the closed meetings of the Regents when fundamental shifts in investment policy and strategy were discussed and adopted, as well as release of data on the "internal rate of return" of individual venture capital investments which UC also denied.

 LAWSUIT against the UC Regents for Release of Public Records on Investment Activities

 Timeline of Action in UC Public Disclosure Lawsuit (a Word document)

 Private Equity Funds that Disclose Investment Data (a Word document)

 Excel spreadsheet of UC funds that publicly disclose investment data in other cases

 Judge issued ruling (July 24, 2003)

 Press Release: Judge tells UC Regents they can't hide investment losses (July 28, 2003)

 Court Order Insures Disclosure (Mercury News 7/31/03)

 Press Release: Clerical Workers Urge UC To Disclose Investment Losses (August 5, 2003)

 UC ordered to reveal details of investments; Ruling on venture capital funds could cost university hundreds of millions in returns (San Francisco Chronicle August 29, 2003)

 Press Release: Case closed, clerical workers win landmark victory for public disclosure (October 13, 2003)

 Why UC changed advisers; Investments lost $2.5 billion, sealed transcript reveals (San Francisco Chronicle January 14, 2004)