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PADUCAH, Ky. (AP), Feb. 12, 2008-- " Three top administrators at a
financially troubled law school in western Kentucky resigned on Monday after a
retired surgeon exercised an option to buy the school.
Paul Hendrick, the dean and founder of the American Justice School of Law, associate dean Jerrod Turner and chairman of the board of directors Wayne Shelton left the school as part of the plan by Dr. Robert Meriwether to bail the school out of a serious economic crisis.
Hendrick, Shelton and Turner own 75 percent of the school's stock, which has been placed in escrow pending the outcome of Meriwether's option.
The three men are being sued by former board member Tom Osborne and 30 students for misappropriating funds and violating laws. All three have denied any wrongdoing, and a motion was filed in
U.S. District Court on Monday asking Judge Thomas Russell to dismiss the suit.
Meriwether is attempting to breathe life into the school, lending the institution $100,000 to cover payroll and meet other expenses while he studies the school's finances. He was two months to decide whether to complete the purchase.
"It won't take me two months," Meriwether said. "The school won't last that long."
Part-time professor Anthony Fletcher has been named acting dean and will run the school for the time being, a move that Meriwether said would become permanent if he finalizes the purchase.
Osborne submitted a purchase offer last week on behalf of eight investors, but withdrew it on Monday because attorneys for Hendrick, Turner and Shelton did not provide a requested list of debts, outstanding bills and current enrollment.