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Education charity settles NY claim funds misused
ALBANY (AP) -- New York has settled a case against a charitable foundation for $7.7 million after claiming it misused funds to benefit a company it's associated with.
Attorney General Eric Schneiderman says Friday the charity helped develop Common Core education tests for sale by the for-profit company.
Schneiderman says $7.5 million of the settlement with Pearson Charitable Foundation will be used to recruit and retain high-quality teachers. The charity promotes literacy and excellence in teaching.
Schneiderman had accused the charity of misusing charitable assets to benefit Pearson Inc. The company sells curriculum material and testing programs to schools worldwide.
The there was no initial response from the charity.