In an unusual move, a Penn State Trustee is filing a lawsuit against his fellow Trustees, and the Trustee Chairman
Trustee Barry Fenchak says he’s been denied what he describes as critical information that he’s requested for years, about Penn State’s Endowment which is nearly 5$ Billion dollars.
According to Fenchak he noticed an increase in the endowment’s administrative fees, and when asked about it, the information was withheld.
He says he was told his request was unreasonable.
Fenchak says state law gives trustees the power to review financial matters, and now feels his only option is to go to court.
When we talked to him a few weeks ago, Fenchak was frustrated about transparency with the Trustees
“I think that is severely lacking and its not that its lacking, it’s discouraged. I am a person who has a very strong commitment to what the role of governance is. What my responsibilities and duties are. and they’re to the Universities and institutions, and to our stake holders”
Fenchak is the second Penn State trustee recently at odds with trustee leadership.
A few months ago we brought you a report on Trustee Anthony Lubrano being accused of creating a public spectacle at a board meeting, and told he violated a requirement for not clearing an
interview he did with news stations with the University’s Strategic Communications team.
