It is not clear that Harvard had already made the decision to reject the demands before it issued the bonds. “There is reason to believe Harvard withheld material information from bondholders,” wrote Stefanik, who chairs the House’s Republican caucus. “If Harvard had indeed made its decision by April 9 and did not disclose it, this would warrant serious scrutiny.”
Stefanik claimed that the omission may have violated federal securities laws, arguing that investors were not made aware of the full financial and reputational risks posed by Harvard’s growing conflict with the Trump administration. In essence, she argued, Harvard should have told bondholders to expect the Trump administration to punish its bottom line for refusing to comply with federal demands.
A University spokesperson forcefully rejected Stefanik’s allegations, writing that Harvard could not have foreseen the administration’s sweeping demands nor its retaliation, and that it communicated with bondholders as soon as possible...
Full story at https://www.thecrimson.com/article/2025/6/18/stefanik-sec-bond-disclosures/.
No comments:
Post a Comment