Monday, February 04, 2008
Touro in discussions to sell off their newly opened Central Islip Law School
Touro College is in discussions to sell its just-opened Central Islip law school to Stony Brook University.
Touro's Jacob D. Fuchsberg Law Center moved into the state-of-the-art campus adjacent to the federal court house in Central Islip last year. Independent appraisers are calculating the value of the school and are expected to issue reports in a matter of weeks.
Sources said the property itself would net Touro north of $35 million, so an outright acquisition of the law school could fetch in the $70 million range.
The sources also said Touro founder Bernard Lander would like to open a new law school in New York City to compete with law schools such as Fordham and New York University.
The Touro facility would be the New York State university system's second law school – the first is in Buffalo – and a signature addition for Stony Brook, the system's largest and fastest-growing campus.
Last year, Stony Brook added an innovative journalism program and acquired Long Island University's Southampton campus. It also announced an aggressive expansion to its medical school and is building centers for alternative energy and wireless technology.
http://www.libn.com/breakingNews.htm?articleID=9779
Touro's Jacob D. Fuchsberg Law Center moved into the state-of-the-art campus adjacent to the federal court house in Central Islip last year. Independent appraisers are calculating the value of the school and are expected to issue reports in a matter of weeks.
Sources said the property itself would net Touro north of $35 million, so an outright acquisition of the law school could fetch in the $70 million range.
The sources also said Touro founder Bernard Lander would like to open a new law school in New York City to compete with law schools such as Fordham and New York University.
The Touro facility would be the New York State university system's second law school – the first is in Buffalo – and a signature addition for Stony Brook, the system's largest and fastest-growing campus.
Last year, Stony Brook added an innovative journalism program and acquired Long Island University's Southampton campus. It also announced an aggressive expansion to its medical school and is building centers for alternative energy and wireless technology.
http://www.libn.com/breakingNews.htm?articleID=9779
Comments:
touro just sold their online division for over $100,000,000
Comment Credit ---This article posted by 
: February 04, 2008 5:44 PM
: February 04, 2008 5:44 PM
IDT Corp. has accused Touro University, the nation’s largest Jewish
university, of failing to pay the Newark-based telecommunications company $38
million from the sale of a joint venture.
A suit filed by IDT in U.S. District Court in Newark claims the company is owed
20 percent of the $190 million the university’s parent received in the sale of
its Internet-based venture, TUI, in October.
The suit, claims IDT helped put an online venture together for Touro College,
the university’s parent company, at the suggestion of founder Bernard Lander.
Howard Jonas, the telecom company’s founder, agreed, in return for 20 percent of
the venture, and Lander accepted the deal, the suit says.
Yet Touro College has refused to pay IDT any proceeds from the sale, the suit
says.
The suit accuses Touro College, Touro University, TUI and Summit Partners of
breach of contract and demands that Summit pay IDT 20 percent of the amount
Summit paid for TUI.
university, of failing to pay the Newark-based telecommunications company $38
million from the sale of a joint venture.
A suit filed by IDT in U.S. District Court in Newark claims the company is owed
20 percent of the $190 million the university’s parent received in the sale of
its Internet-based venture, TUI, in October.
The suit, claims IDT helped put an online venture together for Touro College,
the university’s parent company, at the suggestion of founder Bernard Lander.
Howard Jonas, the telecom company’s founder, agreed, in return for 20 percent of
the venture, and Lander accepted the deal, the suit says.
Yet Touro College has refused to pay IDT any proceeds from the sale, the suit
says.
The suit accuses Touro College, Touro University, TUI and Summit Partners of
breach of contract and demands that Summit pay IDT 20 percent of the amount
Summit paid for TUI.
Comment Credit ---This article posted by : February 04, 2008 5:45 PM
: February 04, 2008 5:45 PM
An oral agreement is not worth the paper it's written on
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Comment Credit ---This article posted by : February 05, 2008 10:05 AM
: February 05, 2008 10:05 AM
