West Virginia Radio Corporation (“WVRC”), the West Virginia University Board of Governors (“WVU”) and the West Virginia University Foundation, Inc. (“WVUF”) announced today (June 24) that a settlement has been reached in regard to the litigation currently pending before the Business Court in the Circuit Court of Monongalia County. The settlement includes a resolution of all claims against all parties in the litigation.
The suit, initially filed by WVRC on June 19, 2013, involved claims surrounding the bid process in WVU’s Athletic Multimedia Rights and the acquisition of certain equipment by WVUF for WVU’s Athletic Department. A trial had been scheduled for June 22, 2015.
WVU President E. Gordon Gee released a statement that he was “very pleased to bring this matter to a final resolution. WVRC is a significant contributor to our local community, West Virginia University, and the State of West Virginia. The University deeply appreciates and values the partnership it has had with WVRC for more than 70 years in bringing high-quality radio broadcasts to Mountaineer fans throughout West Virginia and the surrounding states.”
WVRC Chairman John R. Raese stated that he was also “very satisfied with the settlement and the need to move forward. I certainly appreciate the approach of Dr. Gee to these matters. Our companies will look forward to supporting WVU’s and the Foundation’s mission of making WVU one of the leading institutions of higher education in the country.”
In light of the allegations made by WVRC, WVU conducted an evaluation and analysis of its procurement and purchasing practices, including an assessment of the personnel and structure, procurement policies and procedures, operational efficiency and effectiveness, and information technology utilization. As a result of this evaluation process, WVU has undertaken significant, ongoing improvements designed to enhance its procurement function. Additionally, the WVUF, operating in conjunction with WVU, modified the procedure by which it authorizes disbursements of funds held by the Foundation for WVU.
-WVU-
06/24/15
CONTACT: University Relations/News
304.293.6997
Follow @WVUToday on Twitter.