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05/28/2014 10:30 am ET Updated May 28, 2014

Cooper Union Professors, Students Sue To Block Tuition

Spencer Platt via Getty Images

Cooper Union, the prestigious university for art, architecture and engineering, was slammed with a lawsuit from professors, alumni and newly admitted students Tuesday over its decision to start charging tuition for undergraduates in the fall.

The scathing Manhattan Supreme Court documents accuse the school’s leaders of spending on fancy new buildings, borrowing more money than the school could afford and losing tens of millions by investing in a trustee’s own hedge fund.

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