A philanthropist who donated $1 million to a New Jersey biomedical research institute to fund human stem cell research has filed suit in U.S. District Court to demand the money back, claiming that the explicit conditions of his gift were ignored. The suit alleges that the Coriell Institute for Medical Research mismanaged the funds, misrepresented information to its board of trustees and "ultimately failed to spend a single penny of the donated funds."
May 05, 2006 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
A philanthropist who donated $1 million to a New Jersey biomedical research institute to fund human stem cell research has filed suit in U.S. District Court to demand the money back, claiming that the explicit conditions of his gift were ignored.
In the suit, plaintiffs Edward M. Satell and the Satell Family Foundation Trust accuse the Coriell Institute for Medical Research of breach of contract and conversion.
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