Harvard, Templeton trade barbs in court filings.(News Briefs)(Harvard Management Co. files counterclaim against Templeton Asset Management)(Brief Article)

Pensions & Investments, February, 2003

BALTIMORE - Harvard Management Co. filed a counterclaim against Templeton Asset Management, the Templeton China World Fund and Templeton Dragon Fund. That move came one week after Templeton filed suit in federal court against Harvard Management, which runs the $18 billion Harvard University Endowment, Boston, alleging securities law violations in connection with Harvard's move to terminate the management teams of the China World and Dragon funds.

The counterclaim, filed in U.S. District Court in Baltimore, alleges Templeton filed ``false or misleading'' proxy statements. In addition, Harvard alleges the firm breached its fiduciary duties to shareholders by voting to open-end the China World Fund. ``Any suggestion that the boards and management have not acted in...

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