ContractsProf Blog

Editor: Myanna Dellinger
University of South Dakota School of Law

Tuesday, January 12, 2010

Wesleyan Sues Former Chief Investment Officer

 According to Business Week, Wesleyan University is suing its former Chief Investment officer, Thomas Kannam, for fraud and breach of contract.  Kannam allegedly formed his own hedge funds while working for Wesleyan.  According to the Business Week report, Wesleyan is alleging that Kannam used Wesleyan resources to pursue his own entrepreneurial ventures.  He also allegedly made use of information available to him because of his position at Wesleyan for purposes of private gain.  

My attempts to find a copy of the complaint online were unavailing.  I was especially interested in doing so because the facts as reported do not make especially clear why the suit would sound in breach of contract and fraud rather than in breach of fiduciary duty.  We will try to provide updates if they arise.

[Jeremy Telman]

In the News, Recent Cases | Permalink

TrackBack URL for this entry:

Listed below are links to weblogs that reference Wesleyan Sues Former Chief Investment Officer:


Post a comment

If you do not complete your comment within 15 minutes, it will be lost. For longer comments, you may want to draft them in Word or another program and then copy them into this comment box.