Ayal Rosenthal is suing NYU for breach-of-contract to reclaim his revoked MBA diploma, says the New York Post.
Three years ago, Rosenthal was convicted of leaking classified information while working as an accountant at PricewaterhouseCoopers. He was attending NYU part time while committing the fraud. The university revoked his degree after the SEC brought charges..
NYP: He claims that the university was “excessive and unfair,” and that the proceedings violated his right to a “fair and timely hearing” because NYU took nearly seven months before considering his case in September 2007.
NYU says the delay came “in part because of the unusual nature of the violation.”
Rosenthal, 29, is the youngest son of Zvi Rosenthal, who was charged along with his three sons (including Ayal) of insider trading in 2007. According to the SEC release of the charge, the scheme netted more than $3.7 million over four years.
Zvi was convicted of tipping his sons to insider information on Taro Pharmaceuticals Industries, where he was an executive. Money was siphoned through a hedge fund to disguise trading in Taro.
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