The University of California is under no obligation to obtain and disclose information on the investment performance of venture capital funds in its portfolio, a California court ruled Thursday in a decision that could broadly affect how public-records laws are interpreted. The suit, filed last year in California state court in Oakland by Reuters America, a unit of Thomson Reuters Corp , argued that the state Public Records Act requires disclosure of investment-return information for the university system's $11.23 billion endowment fund.Specifically, the suit sought performance information on funds managed by Kleiner Perkins Caufield & Byers and Sequoia Capital, the only funds among the dozens in which the university has investments whose returns were not disclosed. The university argued that it did not have the return information in its possession.In October last year, a trial court judge agreed with Reuters that the university should obtain and disclose performance results for those funds.Thursday, a panel of judges reversed the earlier decision, and also ordered Reuters to pay the court costs of the Regents of the University of California.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 1.99% or $0.73/share to $37.33. In the past year, the shares have traded as low as $28.53 and as high as $38.73. On average, 862386 shares of TRI exchange hands on a given day and today's volume is recorded at 844009.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 1.76% or $0.69/share to $39.81. In the past year, the shares have traded as low as $28.45 and as high as $40.61. On average, 973464 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 1066877.
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