A Gibson employee, a grandson of the owners, pursued a black Oberlin student who stole from Gibson's Bakery. Oberlin slandered Gibson's as racist and was directed by a jury to pay damages of $11 million.
The grandson confronted the underage student for shoplifting alcohol, which he refused to sell him. The shoplifter and two of his friends assaulted the grandson, and were arrested. Charges against the students were reduced to misdemeanors in return for guilty pleas and elocutions. An elocution is more than a guilty plea, it is a declaration that the defendant admits to the charges and is not just accepting a guilty plea to avoid going through a trial (think of Mike Flynn).
An Oberlin administrated initiated protests and a boycott again Gibson’s, and the University interfered with their business, specifically requiring their cafeteria contractor to drop Gibson as a supplier.
The judgment was for something like $30 million. Oberlin’s endowment fund is in excess of $90 million, but most of that money is legally committed, but there is just enough free to cover the judgment. Oberlin has appealed, but the judge required them to post $36 million in escrow to cover Gibson’s legal costs and interest on the judgment should the appeal fail.
So basically, Oberlin has no free cash and is living from tuition payment to tuition payment.