10 Lessons Learned From the King Foundation Case - Exponent Philanthropy

10 Lessons Learned From the King Foundation Case

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In 2002, the Texas attorney general sued the board of directors and officers of the Carl B. and Florence E. King Foundation for breaches of fiduciary duty. After the court appointed a new board, the King Foundation joined in the suit. In June 2004, a Texas jury awarded more than $20 million to the King Foundation from the former officers and directors.

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