Mon April 15, 2013
UC board asks for Chesley's resignation
UPDATE: UC released the following statement Monday evening:
Statement by C. Francis Barrett, Chair, University of Cincinnati Board of Trustees
On Friday, April 12, 2013, the University of Cincinnati Board of Trustees delivered a letter to Stanley M. Chesley signed by seven of the nine trustees requesting his resignation from the Board no later than Monday, April 15, 2013 at 5:00 p.m. A copy of that letter is attached. The letter indicated that a special meeting of the Board would be held to consider a resolution concerning his continued service on the Board in the event he did not resign. That resignation has not been received. The Board will hold a special meeting to consider this matter on Thursday morning, April 18, 2013, at 9:00 a.m.
The Original Post:
Seven members of the University of Cincinnati Board of Trustees are asking attorney Stan Chesley to resign from the board , saying he's disregarded the university's code of conduct.
The Kentucky Supreme Court disbarred Chesley last month for his actions and decisions in a $200 million settlement between the makers of the diet drug fen-phen and a group of Kentuckians who sued the company. The justices concluded Chesley knew his fellow lawyers in the case were taking about half of the settlement, which was reached nearly a decade ago in Boone County.
Because Ohio has a reciprocal agreement with Kentucky, Chesley could lose his Ohio law license, too.
In a letter sent to Chesley Friday, the seven board members cite the Kentucky Supreme Court's published findings in the disbarment case.
"Among those are the findings that you engaged in conduct involving dishonesty, fraud, deceit, or misrepresentation," the letter said.
The seven board members are asking for his voluntary resignation by 5 Monday afternoon or they'll hold a public meeting on a formal resolution regarding his "continued service on the board."
When contacted by WVXU, Chesley said he had no comment at this time.