South Carolina School Lawsuit Might Force It to Close - DatelineCarolina

South Carolina School Lawsuit Might Force It to Close

By Colleen Casselton

Charleston Southern University say it is involved in a multi-million dollar lawsuit that may force it to close if a settlement is not reached.  Hundreds of investors swindled by an economics professor at the school are suing the university over their losses. 

The investors lost between $60 and $80 million.  Nine of the investors swindled by Albert E. Parish, Jr. have rejected the school's offer of $3.9 million in restitution. 

Attorneys for the school have requested more time to review the school's finances. 

Parish has plead guilty to defrauding investors and will be sentenced in a about a month. 

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