By Chris Dolmetsch

Columbia University won dismissal of a lawsuit alleging the school failed to use donations to promote Italian culture as the benefactors intended.

Several Italian-American families in 1927 donated $400,000, worth about $5 million today, to the university to erect La Casa Italiana, the "Italian House," on school land. The Italic Institute of America, a nonprofit group based in Floral Park, Queens, sued the school in New York State Supreme Court in Manhattan in August.

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Source: http://www.businessweek.com/