The New York Bar Foundation has made the third and final grant disbursement of $300,000 to two programs: one that helps disabled veterans start businesses and another that advances legal research about technology, innovation and competition law.
During a three-year period, grants totaled $850,000 in funding to the Entrepreneurship Bootcamp for Veterans with Disabilities at Syracuse University and the Center for Technology, Innovation and Competition at the University of Pennsylvania Law School.
The grants were made possible by a 2010 order signed by Chief Judge Loretta A. Preska of the U.S. District Court for the Southern District of New York in the matter of City of Detroit v. Grinnell Corp. (68-cv-4026, 4027, 4028 LAP). The order authorized a cy pres distribution to the Bar Foundation, the philanthropic arm of the New York State Bar Association.
Cy pres is a legal term used to describe an alternate appropriate use for unclaimed funds that remain after the proceeds from a legal settlement are distributed among the members of the class.
The Grinnell litigation, which involved several national class action lawsuits consolidated in the Southern District of New York, alleged that defendant companies engaged in price fixing in selling central station alarm services. The defendants used telephone voice technology to monitor burglar, fire and residential alarm systems from a remote central location. The cases settled for $10 million in 1971.
"The programs funded by this grant make an enormous difference by assisting veterans to start a business, and helping to promote a vibrant, competitive tech sector in our nation," said Bar Foundation President Cristine Cioffi of Niskayuna (Cioffi•Slezak•Wildgrube). "The Foundation is proud to play a role in locating, monitoring and distributing these and other cy pres funds, demonstrating that lawyers and the legal profession can and do make a difference."
The Entrepreneurship Bootcamp for Veterans with Disabilities (EBV) at Syracuse University provides training in entrepreneurship and small business management to post-9/11 veterans with service-related disabilities. Since 2007, more than 650 veterans have completed the EBV program.
"The New York Bar Foundation has played a key role in empowering our EBV veterans to receive the training and support they need to realize the American dream of business ownership," said Mike Haynie, Ph.D, executive director and founder of the Institute for Veterans and Military Families at Syracuse University. "The Foundation's support and commitment to the EBV program - and by extension to our wounded warriors - represents a legacy that will endure through the accomplishments and success of our veterans, for many years to come."
The University of Pennsylvania Law School's Center for Technology, Innovation and Competition (CTIC) promotes research that helps legislators, regulatory authorities and scholars think about technology policy.
"The generosity of the New York Bar Foundation has made possible a wide range of faculty and student initiatives, including novel faculty research and collaboration with researchers from around the world and funding for students interested in technology-related public-interest work," said Christopher S. Yoo, founding director of the CTIC. "The grant has also helped CTIC grow into the cornerstone of a new law and technology initiative at Penn."
To learn more about The New York Bar Foundation and how cy pres settlements and other contributions can support its charitable programs, go to www.tnybf.org, phone 518-487-5651 or email email@example.com.
Contact: Deborah Auspelmyer