A settlement conference has been scheduled in Penn donor and alumnus Saul Rosenthal's lawsuit against the University for alleged misuse of his donation intended for scholarships for underprivileged business students.
Rosenthal, a 1990 Wharton graduate and president of Oxford Square Capital Corporation, filed the lawsuit late last year, alleging that the University gave funds allocated for financially disadvantaged Wharton students concentrating in Entrepreneurship and Innovation or Finance to student athletes who did not fit that description. Rosenthal has asked for the University to terminate any usage of his name, as well as reimburse both his legal fees and over $168,000 in donations.
In response to a request for comment, a University spokesperson told The Daily Pennsylvanian that they typically do not offer comment on pending litigation.
The settlement conference, which is scheduled for September 25, 2024, will be conducted remotely, using video technology. The conference will require the presence of several key parties: the senior attorney responsible for the case from each side, Rosenthal and University representatives, and representatives from any involved insurance carriers or other entities responsible for financing a potential settlement.
Both parties are also required to submit a confidential settlement memorandum to U.S. Magistrate Judge Elizabeth Hey’s chambers no later than four business days before the conference. Hey, the presiding judge for the case, has also encouraged both sides to exchange settlement offers before the conference to facilitate more productive negotiations.
A settlement could involve financial compensation, policy changes, or other remedial measures that address the issues raised by Rosenthal’s lawsuit. However, should the settlement conference fail to yield an agreement, the case will likely proceed to trial, where each side would argue its claims in full before a jury or judge.
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