A PYMNTS Company

Universities Reach Preliminary Settlements in Federal Antitrust Lawsuit

 |  January 24, 2024

After more than a year of legal battles surrounding a federal antitrust lawsuit against 17 prestigious universities, several institutions have moved towards resolution by reaching preliminary settlement agreements. The latest developments were unveiled on Tuesday as Brown, Columbia, Duke, and Yale Universities all filed their respective settlement agreements, according to court documents.

Emory University also submitted documents formalizing its intention to settle, although it was previously reported by Inside Higher Ed last week that Emory had already acknowledged a settlement agreement in its fall financial documents. These universities are now joining the ranks of the University of Chicago, which became the first to settle back in August, as well as Rice and Vanderbilt Universities, both of which quietly settled in the fall or reached agreements pending court approval.

Read more: Rice University Allocates $33.75 Million to Settle Antitrust Lawsuit

With these recent filings, it becomes evident that nine defendants still remain entangled in the antitrust case, signaling that negotiations and legal proceedings are ongoing for a resolution. The lawsuit has been a protracted affair, with multiple universities facing allegations related to anticompetitive practices and collusion, raising concerns about fairness and competition within the higher education sector.

The terms of the settlements reached by Brown, Columbia, Duke, Yale, Emory, University of Chicago, Rice, and Vanderbilt have not been disclosed publicly. However, these agreements mark a significant step forward in the legal proceedings and potentially pave the way for a quicker resolution to the overall case.

As the case continues, it raises questions about the broader implications for the education landscape and the potential reforms that may arise to address antitrust concerns within the higher education sector. Observers will be closely monitoring the remaining defendants and any further developments that could shape the future of this landmark antitrust lawsuit.

Source: Law