UC Seeks Reversal of Ruling on Disclosure
The University of California asked a state appeals court to overturn a ruling that would force it to release returns from more than $800 million in private equity fund investments, saying the returns are a trade secret.
The university said the San Jose Mercury News and other parties that sued it for disclosure in April failed to show that keeping fund returns confidential would conceal fraud or otherwise promote injustice, according to a copy of the petition filed with the state Court of Appeal in San Francisco.
The university asked the appellate court to extend a stay on disclosing returns past Sept. 30 to allow time for its petition to be heard.
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