AG Closes Dartmouth Inquiry
Published in print on October 13, 2012
Concord (AP) — The New Hampshire Attorney General’s Office says no investigation is warranted into anonymous allegations that Dartmouth College trustees mismanaged the college’s endowment.
In a complaint made in February, an anonymous group accused trustees of investing a substantial portion of the college’s $3 billion endowment in companies they themselves own and argued that those investments both lost money and were not in Dartmouth’s best interests.
But the Attorney General’s Office said yesterday that it would not launch a formal investigation because there is no basis to conclude that trustees violated the law. Dartmouth spokesman Justin Anderson said that conclusion speaks to the rigor of Dartmouth’s policies and practices when it comes to endowment investments. He said the college meets or exceeds all legal requirements regarding investments.