Vanderbilt University, along with more than a dozen other prestigious US schools, has agreed to settle a lawsuit accusing them of conspiring to restrict financial aid to students. This marks the second settlement in a case that claims billions of dollars in damages, reported Reuters.
Attorneys for Vanderbilt University revealed in a federal court filing in Chicago on Friday that they have reached an agreement in principle to settle the lawsuit. However, the terms of the settlement were not disclosed, and they will be subject to court approval once finalized. In response to this development, a spokesperson for Vanderbilt stated, “We are proud of our institutional commitment to access and affordability for students and their families.”
The plaintiffs’ lawyers who are leading the case expressed their anticipation in finalizing the settlement documents and presenting them for approval by the court.
Vanderbilt University was among 17 elite schools sued last year in a prospective class action, alleging that a conspiracy existed to reduce the amount of financial aid awarded to hundreds of thousands of students, resulting in overpayment for college tuition. It’s important to note that all the schools involved have consistently denied any wrongdoing in this matter.
Source: Reuters
Featured News
Google and South Carolina Clash Over State Records Demand
May 8, 2024 by
CPI
Telefonica Germany Teams Up with Amazon Web Services to Migrate 5G Customers
May 8, 2024 by
CPI
Federal Judge Grants $7.4 Million Settlement in Pork Price-Fixing Case
May 8, 2024 by
CPI
Wilson Sonsini Bolsters Antitrust and Competition Practice with Key Partner Returns
May 8, 2024 by
CPI
EU to Scrutinize Telecom Italia’s Network Sale to KKR
May 8, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI