A philanthropist couple did "not come close" to proving that a Fidelity-affiliated donor-advised fund sponsor violated a standard of care in the liquidation of their $100 million stock donation, a California federal magistrate judge ruled Friday, roughly four months after presiding over a liability bench trial on the matter.
The U.S. District Court for the Northern District of California in San Francisco.(Ken Lund via Flickr)
(CN) A wealthy couple who donated $100 million of stock to Fidelity’s charitable donor-advised fund did not prove that the fund acted negligently in selling the stock at a time when its price was low, a federal judge in California ruled Friday.
Emily and Malcolm Fairbairn, successful hedge fund managers, filed a lawsuit in 2018 claiming Fidelity Investments Charitable Gift Fund breached their contract by using false promises to compel the couple to donate nearly two million shares of a tech company called Energous.
Caption: A project addressing Lyme disease, led by Linda Griffith, the School of Engineering Professor of Teaching Innovation in MIT’s Department of Biological Engineering, will combine four independent research groups at MIT and the Ragon Institute of MGH, MIT, and Harvard. Credits: Photo: Kathy Wittman
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Despite the fact that Lyme disease is the most common vector-borne disease in the United States, with more than 400,000 new cases every year, there are no consistently accurate tests for Lyme. Known in the medical community as “the great imitator,” Lyme disease can be challenging to diagnose as many of its symptoms, such as fatigue, disrupted sleep, brain fog, and joint and body pain, also occur with other diseases. As a result, Lyme victims are frequently misdiagnosed and researchers still don’t understand why 10-20 percent of Lyme patients remain sick, enduring painful and disabl