A&M bought Texas Wesleyan, a private institution, for $73.2 million. The university bought the law school's accreditation status all the way back to 1994. But A&M hasn't recognized the students who graduated from the law school during that time as alumni, the lawsuit argues.Sure, you may argue that when a self-righteous 2nd-rate undergrad school decides that it suddenly wants a 4th-rate law school that it should buy the obligations with the assets.
The alumni status is crucial for the law school graduates because the purchase essentially included Texas Weslayan's status with the American Bar Association, which now lists A&M Law School -- but not Texas Weslayan -- as an accredited school.
But look at it this way: In public policy, we want to get prestigious-sounding schools involved in the law school prestige game. Remember when Penn State absorbed Dickinson? When Michigan State swallowed Detroit College of Law? When UC-Irvine slapped its brand on a new building and instantly became a Tier 1 school?
All wonderful happenings. On the converse, see The Charleston Saga: Part XXIX, The Magistrate Interupteth for an example of what can happen when we are hostile to reasonable takeovers by superior business models.
The last thing we want to do is weigh down future purchasers with obligations relating to the chaff the previous institution spit out. That's like supporting some other man's kids. That shit's for beta suckers. (side note: Hi, Rich! Make sure you tuck in Li'l LSTC tonight!)
Despite having the golden ticket of a Texas Wesleyan JD, these intrepid barristers apparently have never figured out that their individual goals are always to be subordinate to those of prestigious institutions. This is big business, after all, and merger conquistadors don't exactly take the busted copiers and union pension plans with them. Texas A&M isn't going to sully its image by claiming that graduates from 1998 who went to Texas Wesleyan over South Texas are alumni; no, Texas A&M is going to sully its image only with pureblodded graduates who went to Texas A&M over South Texas.
This is remarkably simple stuff. Besides, what are the damages? A Texas Wesleyan diploma is the passport to wherever and by itself carries a large earnings premium whether one practices law or not.
Class action? More like Ass Action.