Some are having difficulty with the risk management side of this equation. There is no risk with suspending him pending a thorough review and then dismissing him outright for beach of contract or eliciting a resignation for pennies on the dollar. There is a process in place and not following that process leaves room for an argument to the contrary. However baseless a wrongful termination suit might be, there is risk involved with litigating this, and in a public forum.
Anyone remember how long Bev Kearney's matter dragged out and how embarrassing that was? That suit was foundering until she was able to leverage Applewhite's indiscretions into an argument that eventually cost UT $600K and plenty more than that in attorneys' fees and expenses. Do a cost/benefit analysis. Do you want to litigate this with Beard, however frivolous, and roll the dice on what turns up in discovery, or bide your time and make this go away quietly, and if necessary, cheaply?