Parents Sue Trustees Over Prep School’s Shutdown
Mar 9, 2009

Last fall, the Conserve school in Wisconsin, a private preparatory school, closed its doors, citing financial reasons.  Parents banded together and sued the school’s board of trustees.  Critics of the school’s closure contend that Conserve trustees, all officials of the Central Wire and Steel Company, in Chicago, were acting in the firm’s interest rather than the school’s. As the New York Times Reports, “Now students and parents are banding together and challenging the action, contending the school’s underlying financial condition does not look so dire. In fact, the school’s endowment would be the envy of many a prep school. With $181 million and 143 students, it has the equivalent of more than $1 million a student.”  Link to the Times article below: 

http://www.nytimes.com/2009/03/07/business/07conserve.html?emc=tnt&tntemail0=y