A verdict is not expected until July or August in the civil trial pitting Koret Foundation chair Susan Koret, widow of founder Joseph Koret, against longtime board members Richard Greene and Tad Taube.
Susan Koret filed suit in 2014 accusing them of financial self-dealing and charging the foundation with straying from its original mission — helping the poor and aiding Jewish communities in the Bay Area and Israel. The lawsuit accuses Taube of diverting funds to Jewish projects in his native Poland, as well as to conservative groups such as Stanford’s Hoover Institution.
Superior Court Judge Curtis Karnow heard two weeks of testimony from board members, employees and expert witnesses, as well as Taube, Greene and Susan Koret.
Though Taube won’t comment while the case remains open, spokesman Larry Kamer said, “There is some dismay that so many resources have gone into this trial, money that should have gone to charitable purposes, but instead have gone to legal fees. He is glad the end is in sight.”
Sam Singer, a spokesman for Susan Koret, said her attorneys “demonstrated the culture at the Koret Foundation is corrupted” by the actions of Taube and Greene. “The trial shows the Koret Foundation has been crippled by these directors and their breach of contract, fiduciary violations, expense abuse and self-dealing,” Singer said.