"In early March, Liebich and fellow State Board members Bill Gilbert and David Hill spent time perusing a virtual “data room” set up by the sellers. The data room provided a “very thorough” but confidential window into Phoenix’s finances, Liebich said. Access to the information carried a tradeoff. Liebich said he immediately recognized “a moral and ethical duty” to abide by Phoenix’s confidentiality agreement."
"And the letter forbade the U of I from contacting any Phoenix students, past or present employees or corporate partners, without approval in advance."