Former Alabama Securities Commission Chair Files Suit Against Samford University on Behalf of House Corporation Over Alleged Fraternity House Takeover

BIRMINGHAM, Ala., April 5, 2022 (Newswire.com) - Two-term Alabama Securities Commission Chair James L. Hart, a decorated Samford alumnus, recently filed suit against Samford University over what Hart alleges was the takeover of a landmark fraternity house located on a desirable track of land bordered by Saulter Road with no notice some years ago.

"Our position is that the property never belonged to the university and still doesn't," said Hart, who filed the 24-page complaint on behalf of the "House Corporation" -- a non-profit organization founded in 1964 by seven alumni, including Frank Donaldson, Professor of Law at Samford's Cumberland School of Law, to build and manage the fraternity house. "We're suing to recover our property or its fair value."

"From the day the house opened in 1971, it was always independently owned and operated by the House Corporation," alleges Hart, who served on its governing board. "In the ensuing years, the university built and currently operate numerous fraternity and sorority houses surrounding our property, so it's not surprising they viewed us as an attractive takeover target."

According to Hart, the House Corporation went to considerable expense to ensure that the Williamsburg-style fraternity house was architecturally in keeping with Samford's original master plan. "We even hired the university's architect," he added.  

A highly respected forensic accountant, Hart had hoped the lawsuit would be unnecessary. "Certainly, nobody wants to sue their once beloved alma mater," he said. "However, we were left with no option."

For complete information, media inquiries and interviews, contact James L. Hart at [email protected] or call 1-205-910-0451.

Source: House Corporation