Word: allene
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Dates: during 1990-1999
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...Woody Allen's New Deal...
Earlier this month, Harvard asked William T. Allen, the chancellor of Delaware's equity court, for a restraining order preventing the split, arguing that the University's endowment performance would be hurt. The University also charged that Marriott's method of using a special dividend to accomplish the split was illegal...
...Allen rejected that request in harsh language, suggesting that Harvard stood little chance of winning a suit in his court to try to collect damages...
...Allen suggested that Harvard participated in a concerted effort to shield itself from financial risk by buying up preferred stock even as it sold common stock at less than market value...
...sale of Marriott common stock because the stock's value went up instead of down. But it also made a profit of $4.1 million on the preferred stock it owns. Overall, Harvard's net profit on its investment in Marriott, as of June 4, was $485,200, according to Allen's ruling...